Cencora: OneOncology Acquisition and Conservative Guidance Underscore Upside to $400 Target

TD Cowen analyst Charles Rhyee has maintained their bullish stance on COR stock, giving a Buy rating on February 5.

Charles Rhyee has given his Buy rating due to a combination of factors tied to Cencora’s updated outlook and recent acquisition. He expects the OneOncology deal to add meaningfully to U.S. Healthcare operating income by FY26, helping drive adjusted EPS to the upper end of management’s guidance range and reinforcing confidence in the company’s long-term earnings trajectory.

Although the stock sold off after a slowdown in year-over-year growth in the U.S. Healthcare segment and what appeared to be cautious guidance, Rhyee interprets management’s stance as consistent with its historically conservative approach rather than a signal of weakening fundamentals. He maintains a $400 price target, supported by a DCF framework that assumes the shares can reasonably trade at about 20x his CY27 adjusted EPS estimate, indicating material upside from current levels.

In another report released on February 5, Barclays also maintained a Buy rating on the stock with a $400.00 price target.

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COR in relation to earlier this year.