Boston, MA 10/04/2013 (wallstreetpr) – In research report to investors released Thursday, Oct. 3, Rite Aid Corporation (NYSE:RAD) received $6 price target and a “buy” rating from BTIG Research. This is the latest rating of the drugstore chain. According to BTIG Research, RAD’s new price target indicates about 19.76 upside compared with the prevailing stock price.
For this latest rating of RAD, the raters note interesting facts about the firm which touch on its low cost operation policy, management style and market situation. Apparently the rater has confidence that the drugstore chain is in a sustainable upward trend.
Several other rating firms have recently echoed their comments of the stock. According to Credit Suisse in a research report to investors published in the last week of September, RAD an “outperform” with a $5 price target. The Credit Suisse previously had $3.50 price objective on the stock.
Raymond James analysts have also rated the stock an “outperform” in their investment note released Sept 6. They now have $4 price target on the stock, up from $3.50 in the previous note.
Its Zacks that is a bit skeptical of the stock, reiterating its previous “neutral” rating in a research report to investors published July 24. Zacks have $3 on the RAD price target.
It therefore follows that RAD has a consensus rating of “buy” and a consensus price objective of $3.56. At least four analysts rate the stock “hold”, and four others have rated it “buy”.
In the previous quarterly results released Sept 19, RAD realized revenue earning of $6.30 billion against the $6.27 billion consensus estimate. This indicated 8% increase from a similar quarter last year. In the earnings-per-share, RAD posted $0.03 EPS. In a similar quarter last year, RAD recorded $0.05 EPS. The firm is expected to register $0.22 EPS in the prevailing fiscal year. RAD has $4.62 billion in market cap and P/E ratio of 15.98.