Advertisement
YOU ARE HERE: LAT HomeCollections

O.C. BUSINESS PLUS | O.C. BRIEFLY

Bergen Brunswig Shares Rise Despite Loss

November 07, 2000|Dow Jones

Though Bergen Brunswig Corp. posted a fiscal fourth-quarter loss that was heavier than expected last week, analysts thought the Orange-based company showed signs of recovery, and its shares rose 5% Monday, following a 9.1% gain Friday.

The stock, which has moved up 42% this year, closed at $11.81, up 56 cents a share, on the New York Stock Exchange.

Salomon Smith Barney analyst Glen J. Santangelo cited Bergen's solid revenue growth and operating improvements in its pharmaceutical distribution as key positive developments in the quarter.

Revenue from the company's pharmaceutical distribution segment grew 15% to $4.7 million.

Santangelo raised his fiscal 2001 earnings-per-share estimate by 7 cents to 77 cents and reset his stock price target to $13 from $10, based on recent performance.

Advertisement
Los Angeles Times Articles
|
|
|