Argus Upgrades McKesson (MCK) to Buy
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Argus analyst David Toung upgraded McKesson (NYSE: MCK) from Hold to Buy with a price target of $230.00.
The analyst comments "We are raising our near- and long-term ratings on McKesson Corp. (NYSE: MCK) to BUY from HOLD and setting a price target of $230. The company is boosting profitability and ROE, helped by strong revenue growth in the Medical-Surgical business and improved execution in Prescription Technology Solutions. We also expect it to generate higher volume as the main U.S. distributor of the Moderna and Johnson & Johnson COVID-19 vaccines and ancillary supplies. In addition, the company is exploring the sale of its underperforming UK retail pharmacy business, which could provide resources for new acquisitions."
Shares of McKesson closed at $196.00 yesterday.
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