Baird analyst Eric Coldwell upgraded Cardinal Health to Outperform from Neutral with a price target of $94, up from $87. Cardinal has showed over the last couple quarters that it deserves to be part of a positive drug distributor sector call, the analyst tells investors in a research note. The firm is encouraged the company’s Pharma unit is narrowing its long-running profit growth gap with peers, while the Medical unit "methodically chips away" at a turnaround plan. It thinks the stock’s "value trap label is ready to be shed."
Published first on TheFly
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