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This morning on The Call @ Hedgeye, Consumables analyst Daniel Biolsi and Hedgeye CEO Keith McCullough discuss why Perrigo (PRGO) is still a great stock to be long on, despite recent downward guidance following earnings.
“You never want to see them have to lower guidance, but the underlying guidance in everything that they could control improved,” reports Biolsi. “Almost anything you’re buying in a drug store or grocery store that is Walgreen’s brand or CVS brand, that’s made by Perrigo… The trade down effect is really happening.”
“This is such an easy one to understand,” says McCullough. “People actually do get colds and the flu, and you’ll go to the drug store, and you’ll pay Perrigo.”
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