Jefferies raised the firm’s price target on Cardinal Health (CAH) to $220 from $190 and keeps a Buy rating on the shares. The firm notes the company delivered a strong Q3, raising guidance and, most importantly, delivering strong core Pharma numbers against a low buy-side bar. Despite the raise, FY26 guidance still looks conservative to Jefferies, given the strong Q1 performance even after accounting for modest accretion from the now closed Solaris acquisition. The firm remains bullish, as Cardinal Health continues to execute on its strategic priorities with line of sight to achieve its +12%-14% EPS LRP.
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