Analyst Actions: CareRx Initiated With Buy Rating At Desjardins

· 02/05/2021 02:39

07:30 AM EST, 02/05/2021 (MT Newswires) -- CareRx Corp. (CRRX.TO), which rose 4.2% on Thursday after raising $21.2 million a day earlier, was rated Buy in new coverage at Desjardins Securities.

Analyst David Newman has a $7.50 price target on Toronto-based CareRx, Canada's largest provider of specialty pharmacy services to seniors.

Newman said the company has gone through a "remarkable transformation to become a pure-play provider and improve its financial metrics."

"It is well-positioned to capitalize on secular industry tailwinds, contract renewals and organic growth opportunities, as well as consolidation trends in a fragmented market," the analyst said in a note to clients.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 4.4500, Change: +0.1800, Percent Change: +4.22