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Cencora weakness after earnings ‘overdone,’ says Leerink

Leerink analyst Michael Cherny reiterates an Outperform rating and $349 price target on Cencora (COR) as it sees “no change to the durable growth story” and views the weakness following the earnings call as “overdone.” The stock appears to be off on the questions related to the FY26 trajectory, as management gave qualitative comments relative to the long-range plan, but no specific guidance, which “they never do,” according to the analyst. The firm sees continued support for “strong growth at/above the 5-8% long-term targets” for U.S. Healthcare, the analyst added.

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