Cencora price target raised to $270 from $260 at BofA

BofA raised the firm’s price target on Cencora (COR) to $270 from $260 and keeps a Neutral rating on the shares following a “good” quarter. The firm told investors that Cencora continues to benefit from industry-wide tailwinds driving rising utilization and strong demand for specialty medications, and that these trends should continue through FY25. BofA added that increased Q2 guidance includes a “significant” increase in interest expense and a three-percentage point COVID headwind to U.S. Healthcare EBIT growth. While the firm noted some headwinds in the international segment, BofA expects growth to improve in the second half.