TraderDanER
Long

Sep 28 Earnings: Rite Aid - Way Oversold, Earnings Will Surprise

NYSE:RAD   RITE AID CORPORATION
The company's share price has been under severe pressure since the deal with Walgreens $WBA has fallen through and low pharmacy reimbursement rates.
Rite Aid's organic growth remains impressive, posting double digit sales growth in 2016. Earnings should get a boost from aggressive cost cutting measures.
I believe the company's share price is way oversold and earnings revisions should prove fruitful in the next 6 months.

I'm initiating the company with a $3.50 PT for the post-earnings move and upward of $4.00 heading into 2018.
Trade geschlossen: Stop wurde erreicht: Stop reached. Closed.
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