UBS Starts Cardinal Health (CAH) at Neutral
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UBS initiates coverage on Cardinal Health (NYSE: CAH) with a Neutral rating and a price target of $82.00.
Analyst Michael Cherny commented, "We are initiating coverage of Cardinal Health with a Neutral rating and an $82.00 price target. CAH is in the midst of a broad-based business evolution, expanding its value proposition to hospitals by moving upstream in medical supplies / devices manufacturing while also strengthening its specialty footprint. Meanwhile, the core pharma distribution business continues to benefit from shares gains as well as acquisitions by CVS, its largest customer. However, despite these positive trends, the uncertainty surrounding drug pricing is likely to cap multiples at below historical levels, leaving upside limited near-term."
Shares of Cardinal Health closed at $75.88 yesterday.
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