Verona Pharma initiated with a Buy at BTIG
https://thefly.com/landingPageNews.php?id=2894175
Wednesday, April 17, 2019
Henry Schein initiated at Guggenheim
Henry Schein initiated with a Buy at Guggenheim. Guggenheim analyst Glen Santangelo initiated Henry Schein with a Buy rating and a $72 price target. The analyst believes the company can “continue to execute on its strategy, albeit at a slightly slower pace,” after the spinoff, due to the “law of large numbers.”
Teladoc initiated at Guggenheim
Teladoc initiated with a Buy at Guggenheim. Guggenheim analyst Glen Santangelo initiated Teladoc with a Buy rating and a price target of $59. The analyst contends that the company stands well positioned to benefit from the “early stages of penetration” by telemedicine. Santangelo acknowledges the “competitive pressures facing the industry”, but believes that the recent pullback in the stock price positions the company as a potential “beat and raise story”.
Rite Aid assumed with a Sell from Neutral at Guggenheim
Guggenheim analyst Glen Santangelo assumed coverage of Rite Aid and downgraded the shares to Sell from the firm’s Neutral rating under analyst John Heinbockel. Santangelo also lowered the price target fro Rite Aid to 35c per share, down from 45c per share. The analyst believes Rite Aid’s “significant debt burden” and “high leverage will continue to limit Rite Aid’s ability to work through its structural and competitive issues.”
Medidata initiated at Guggenheim
Medidata initiated with a Buy at Guggenheim. Guggenheim analyst Glen Santangelo started Medidata Solutions with a Buy rating and $92 price target. The company has a strong competitive position and stands to benefit from increased cross-selling and industry trial activity, Santangelo tells investors in a research note. Further, he believes the stock at current levels offers a “compelling” entry point.
CVS Health initiated at Guggenheim
CVS Health assumed with a Buy at Guggenheim. Guggenheim analyst Glen Santangelo assumed coverage of CVS Health with a Buy rating and $63 price target, lowered from a previous price target of $85. The analyst is “excited about the strategic repositioning of the company and the long-term opportunities for the new model,” but noted that he “underestimated the structural and integration issues facing the business.” That said, Santangelo believes that much of the damage to the stock is already done, and believes CVS Health is a good fit for long-term investors that can handle near-term volatility.
Align Technology initiated at Guggenheim
Align Technology initiated with a Buy at Guggenheim. Guggenheim analyst Glen Santangelo initiated Align Technology with a Buy rating and a price target of $335. The analyst says the stock price has started to recover recently following a 53% peak to trough pullback in Q4, as investors appear to have “digested the concerns around decelerating growth and pricing.” With “no meaningful competition on the horizon”, Santangelo is retaining his positive view on the “global penetration opportunity” for Align Technology, given the low global penetration for its clear aligners and iTero scanners as well as signs of traction in the company’s international market sales efforts.
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