Analyst Michael Cherny of Leerink Partners maintained a Buy rating on McKesson (MCK – Research Report), retaining the price target of $785.00.
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Michael Cherny’s rating is based on McKesson’s recent operational strength, which led to an increase in their earnings per share guidance. This operational improvement across various segments is seen as a modest positive, particularly as it helps alleviate concerns about unexpected tax issues that arose in the previous fiscal year.
Additionally, the completion of McKesson’s acquisition of a 70% stake in Core Ventures, which aligns with company guidance, is viewed positively. This acquisition shifts the focus back to core results after a lengthy review process. Cherny maintains an Outperform rating with a price target of $785, reflecting confidence in McKesson’s continued positive momentum.
In another report released yesterday, Morgan Stanley also reiterated a Buy rating on the stock with a $770.00 price target.
MCK’s price has also changed moderately for the past six months – from $591.900 to $708.220, which is a 19.65% increase.