McKesson (MCK): Shifting EPS After CFO Meeting - Leerink
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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.
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