McKesson (MCK) PT Raised to $185 at Jefferies as Recovery Thesis Plays Out and Resiliency Shines

August 4, 2020 6:21 AM EDT
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Price: $202.63 +1.81%

Rating Summary:
    18 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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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."

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