Upgraded Stocks: Rite Aid (NYSE:RAD)
Wall Street has continually estimated the reality and strength of the earnings turnaround at Rite Aid (NYSE:RAD). The drugstore chain posted a 150% positive earning surprise in the most recent quarter as business conditions just continue to improve for the company.
Total revenues increased 2.2%, primarily as a result of an increase in pharmacy same-store sales, which improved 2.1% year-over-year. RAD also guided higher and now projects sales of $26 billion to $26.5 billion and EPS of 31 cents to 42 cents, which is above the original analyst estimates.
Last week, RAD stock was upgraded to an “A” and is currently a strong buy.
Louis Navellier is the editor of Blue Chip Growth.