Leerink initiated coverage of Cardinal Health with an Outperform rating and $125 price target. Cardinal’s transformation remains in place, but the company has already shown a clear ability to sustain elevated growth compared to historical levels, which the analyst says is “a factor not fully reflected in relative multiples even with the recent multi-year outperformance.” The firm views the stability of Pharma growth and the combination of the newly-rebranded Other segment helping to push towards a multi-year double-digit earnings growth compound annual growth rate.
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