Cencora (COR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Charles Rhyee from TD Cowen reiterated a Buy rating on the stock and has a $350.00 price target.
Charles Rhyee has given his Buy rating due to a combination of factors including Cencora’s robust performance in the U.S. healthcare segment. The company demonstrated impressive growth in specialty areas, particularly in physician practices and health systems, which significantly exceeded consensus expectations. This strong performance was attributed to increased utilization and sales growth in specialties such as oncology, as well as a notable uptake in biosimilars.
Despite some challenges in the international segment, where operational income fell short of expectations, the strength in the U.S. market is seen as a compensating factor. Management’s confidence in the company’s future is reflected in their raised guidance for the fiscal year 2025, highlighting anticipated growth in the U.S. healthcare segment. Overall, these factors contribute to the positive outlook and justify the Buy rating for Cencora’s stock.
In another report released on April 29, UBS also maintained a Buy rating on the stock with a $335.00 price target.