Friday December 21, 03:46 PM
Jean Coutu "hold," target price reduced
NEW YORK, December 21 (newratings.com) - Analyst Stuart Morrow of Research Capital maintains his "hold" rating on The Jean Coutu Group Inc (ticker: PJC). The target price has been reduced from C$14.75 to C$12.50.
In a research note published
this morning, the analyst mentions that Rite Aid (NYSE: RAD - news) has posted its F3Q08 EPS short of the consensus and has reduced its full-year guidance across various metrics to reflect a weaker gross margin/sales scenario. Around 35% of Jean Coutu's share price reflects the value of Rite Aid, the analyst adds. The EPS estimates for FY08 and FY09 have been reduced from C$0.19 to C$0.14 and from C$0.69 to C$0.66, respectively.
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