BofA analyst Allen Lutz raised the firm’s price target on Cardinal Health (CAH) to $180 from $170 and keeps a Buy rating on the shares. After having attended Cardinal Health’s investor day, the firm came away from the event “incrementally confident” in management’s strategy, internal investments the company is making and capital allocation, the analyst tells investors. Following the event, the firm applies a higher multiple to its estimates, driven by stronger EBIT growth and cash flow generation.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAH:
- Cardinal Health price target raised to $181 from $166 at Morgan Stanley
- Cardinal Health price target raised to $170 from $157 at Citi
- Buy Recommendation for Cardinal Health Driven by Strong Financial Outlook and Strategic Initiatives
- Cardinal Health price target raised to $180 from $175 at Evercore ISI
- Oracle reports Q4 beat, BioNTech to acquire CureVac: Morning Buzz
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue