McKesson (MCK): Shifting EPS After CFO Meeting - Leerink
- Wall Street declines as some post-election gainers reverse
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shows clemency to Manning, intelligence analyst behind leaks
- Big 5 Sporting Goods (BGFV) Q4 Comps Rise 3.1%; Guides Q4 Above the Street
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Leerink Partners analyst, David Larson, reiterated his Outperform rating on shares of McKesson (NYSE: MCK) after meeting with recently McKesson’s CFO James Beer, and Director of Investor Relations, Craig Mercer.
The analyst thinks that the CFO is being conservative but he came away from the meeting more cautious in the near-term but positive over the long-term. He shifted $0.15 of 2017E quarterly EPS from F2Q:17 to F2H:17. He sees F2018E headwinds of $0.80 made up of RAD and a tough litigation comp. offset by tailwinds of $0.50 from recent deals, client wins, and lower costs.
Over the long term, the analyst believes that Change could add $0.30-$0.60 which would essentially offset RAD. No change to the price target of $230.
Shares of McKesson closed at $184.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Cowen Raises Price Target on GigOptix (GIG) to $4 Following 4Q Pre-announcement
- Zendesk (ZEN) Falls as JMP Checks Suggest Q4 Bookings May Disappoint
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!