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.
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