Analyst Charles Rhyee of TD Cowen maintained a Buy rating on McKesson, boosting the price target to $1,000.00.
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Charles Rhyee has given his Buy rating due to a combination of factors including McKesson’s strong performance in the North American Pharmaceutical and Oncology & Multispecialty segments. The company reported adjusted earnings per share that significantly exceeded expectations, indicating robust operational strength. Despite some one-time gains and adjustments, the underlying performance was solid, reflecting effective management strategies.
Rhyee also noted that while McKesson’s guidance for the fiscal year was raised conservatively, this reflects a cautious approach by management rather than any underlying weakness. The company’s ability to outperform in key areas such as specialty distribution and prescription volumes, despite some headwinds in other segments, underscores its resilience and growth potential. These factors collectively support the Buy rating, highlighting McKesson’s promising outlook.
In another report released on November 3, Bank of America Securities also maintained a Buy rating on the stock with a $900.00 price target.