McKesson (MCK) PT Raised to $185 at Jefferies as Recovery Thesis Plays Out and Resiliency Shines
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Jefferies analyst Rob Dickerson raised the price target on McKesson (NYSE: MCK) to $185.00 (from $167.00) while maintaining a Buy rating citing rev beats, cost controls powering earnings, a FY21 guidance raise, a notable rebound in volumes in June, and resilience in MCK's business.
The analyst stated "We maintain our positive view on MCK and believe the stock will continue to firm up as the company demonstrates its ability to recover from COVID-related disruption. Mgmt's move to raise its operating income guidance should provide investors a confidence boost as it highlights the underlying strength of MCK's fundamentals, especially with growth seen in the specialty category. Strong FCF should also translate to continued buyback activity through CY21."
You May Also Be Interested In
- Hindustan Unilever Ltd (HUVR:IN) PT Raised to INR2,800 at Macquarie
- Mphasis Ltd. (MPHL:IN) PT Raised to INR2,560 at Emkay Global
- PTT Public Company Limited (PTT:TB) (PTTPF) PT Lowered to THB42 at Macquarie
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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!