Stock Watch: Lehman Coverage Sends Drugstore.com Higher
May 8, 2000 12:00 AM PT
Drugstore.com gained 1 1/16 to 9 11/16 Friday after Lehman Brothers began coverage of the stock with an outperform rating.
Amazon.com holds a stake of about 24 percent in Drugstore.com, which also has alliances with Rite Aid Corp. and General Nutrition Centers. The Bellevue, Washington-based online pharmacy reported higher sales and a narrower loss for the first quarter ended April 2nd.
Lehman analyst Holly Becker's rating carries a price target of $12 to $14 a share, wire reports said.