Rite Aid price target raised to $9 from $7 at Deutsche Bank Deutsche Bank raised its price target for Rite Aid shares to $9 from $7 citing the company's strong Q4 results and outlook. The firm believes Rite Aide is transitioning from a turnaround to growth story and it keeps a Buy rating on the stock.
Rite Aid remains an attractive financial story, says BofA/Merrill BofA/Merrill said Rite Aid's (RAD) forward results should reflect Envision contributions, few store closures, McKesson contract savings, and ongoing capital structure initiatives. The firm said Rite Aid has opportunities to reduce debt and refinance other obligations that will increase ROIC and lower its cost of capital. BofA/Merrill is encouraged by the company's progress and notes there is little correlation with Wal-Mart's (WMT) sales following yesterday's weakness in shares. The firm rates Rite Aid shares a Buy.