Cardinal Health upgraded to Buy at Citi on specialty build out, core resiliency

As previously reported, Citi upgraded Cardinal Health (CAH) to Buy from Neutral with a price target of $244, up from $190. While the firm continues to have concerns around the GMPD businesses, it has been impressed with Cardinal’s build out of its specialty assets and the resiliency of its core distribution business, the analyst tells investors. The firm sees further upside to its and consensus estimates as Cardinal begins onboarding the distribution business of its recently acquired MSO assets, the analyst tells investors.