Amerisourcebergen Gets RS Rating Upgrade
In a welcome move, Amerisourcebergen saw its Relative Strength Rating improve from 69 to 72 on Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves. See if Amerisourcebergen can continue to show renewed price strength and clear that threshold.
Amerisourcebergen is working on a flat base with a 128.97 buy point. See if the stock can clear the breakout price in heavy volume.
Earnings grew 17% last quarter, up from 5% in the prior report. Revenue also increased, from 4% to 18%.
Amerisourcebergen earns the No. 3 rank among its peers in the Medical-Wholesale Drugs industry group. Owens & Minor and Amerisourcebergen are also among the group's highest-rated stocks.