UBS Starts McKesson (MCK) at Neutral
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UBS initiates coverage on McKesson (NYSE: MCK) with a Neutral rating and a price target of $182.00.
Analyst Michael Cherny commented, "We are initiating coverage on McKesson with a Neutral rating and a $182 price target. McKesson has been one of the steadiest performers across healthcare for the last decade, with strong growth in core distribution (pharma and medical) and consistent expansion through M&A. MCK is also generating strategic value for the Technology Solutions business, a long-term underperformer. While headwinds such as branded drug pricing and client losses will slow growth in the short-term, the overhang and uncertainty surrounding drug pricing ahead of the election leaves limited upside for multiple expansion back to normalized levels, thereby capping upside potential."
Shares of McKesson closed at $165.67 yesterday.
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