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Rite Aid is back in the black, and analysts are taking notice
Rite Aid last week posted a third quarter profit of $61.9 million, marking the first time Rite Aid has been back in the quarterly black since June 2007. The quarterly report beat analyst expectations as the generic wave and retention of Express Scripts customers helped drive better-than-expected adjusted EBIDTA.
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Rite Aid shares trading some 40% higher in week following 3Q conference call
CAMP HILL, Pa. — Rite Aid's fundamentals are improving, and Wall Street has taken notice.
Rite Aid stock was up slightly by three cents late Thursday afternoon from its previous close of $1.41 per share. But shares were trading at $1.02 per share on Dec. 19, the day before Rite Aid announced third quarter results.