Cardinal Health price target raised to $170 from $165 at BofA

BofA raised the firm’s price target on Cardinal Health (CAH) to $170 from $165 and keeps a Buy rating on the shares ahead of the company’s upcoming investor day on June 12. Expectations are high heading into the event due to “impressive execution over the past two years and multiple industry tailwinds,” says the analyst, who increases the firm’s target to reflect higher peer multiples. The firm expects Cardinal Health to raise its long-term target Pharmaceutical EBIT growth guidance from 4-6% to 5-7% or 5-8%, the analyst noted.