Cencora, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Charles Rhyee from TD Cowen reiterated a Buy rating on the stock and has a $350.00 price target.
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Charles Rhyee has given his Buy rating due to a combination of factors that highlight Cencora’s long-term potential despite some near-term challenges. He acknowledges that the company’s upcoming fiscal year 2026 guidance might not meet investor expectations, as it is anticipated to align with long-term growth targets of 5-8%, which is below the consensus of 9%. This anticipated guidance could lead to a slowdown in growth compared to previous years, potentially causing short-term pressure on the stock.
However, Rhyee maintains a positive outlook on Cencora’s long-term fundamentals, particularly due to its strong position in sectors like oncology, generics, and biosimilars. He believes these areas will provide significant growth opportunities and could lead to the company exceeding its conservative growth targets in the future. Despite the potential for short-term volatility, Rhyee’s confidence in the company’s strategic positioning and underlying market trends supports his Buy rating.
According to TipRanks, Rhyee is a 3-star analyst with an average return of 1.7% and a 48.37% success rate. Rhyee covers the Healthcare sector, focusing on stocks such as CVS Health, Evolent Health, and Fortrea Holdings Inc..