Cardinal Health price target raised to $157 from $140 at Citi

Citi raised the firm’s price target on Cardinal Health (CAH) to $157 from $140 and keeps a Neutral rating on the shares following “solid” Q3 results. The firm noted that while Pharma revenue was a bit light, it was encouraged to hear the $10B onboarding of Publix/client expansions have gone to plan. Impressively, Pharma margins expanded 16 basis points largely due to continued growth in higher margin Biopharma/MSO solutions and generic stability leading 14% Pharma adjusted operating income growth, Citi told investors in a research note.