Medco Health shares rise on positive outlook

Shares rose $2.88, or 7.7 percent, to $40.20. The stock has traded between $29.80 and $54.63 over the last 52 weeks. Meanwhile, broader market indexes including the Dow Jones industrial average and S&P 500 all rose by just under or just over 4 percent.

Analysts reaffirmed mostly positive ratings on the stock following the company's annual investor's day Friday, saying the financial outlook for the company remains strong and could remain relatively stable in the economic downturn.

"The company continues to perform well in the face of numerous macro concerns, and given its incredibly diverse and differentiated product offering, we do not see this trend slowing anytime soon," said Deutsche Bank-North America Ross Muken, in a note to investors following the analyst day.

He reaffirmed a "Buy" rating and $55 price target.

Meanwhile, Cowen and Co. analyst Kemp Dolliver reaffirmed an "Outperform" rating, saying the company's stock may outperform the broader market by 15 percent to 20 percent over the next year.

He and several other analysts said the company is likely moving in the right direction with its "Therapeutic Resource Centers", or their own dedicated pharmacies for patients with chronic and complicated conditions.

Elsewhere, Citi analyst Charles Boorady reaffirmed a "Buy" rating, saying the possibility of biogeneric drugs and international markets are long-term growth drivers for the company.