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GS Upgrades RAD to BUY

Rite Aid Corporation (NYSE:RAD) shares are higher this morning on an upgrade from Goldman. The drug store chain was upgraded to buy from neutral with a price target of $8 a share, $3 above the prior target level. Goldman cited remodeling of stores, deleveraging of RAD’s balance sheet, and the expanded distribution deal with McKesson Corporation (NYSE:MCK), which provides Rite Aid with daily direct-to-store delivery of pharmaceutical products.