Evercore ISI lowered the firm’s price target on Cardinal Health (CAH) to $110 from $118 and keeps an In Line rating on the shares. Ahead of distributor earnings starting next week and post this week’s Optum (UNH) contract update, the firm is adjusting its Cardinal and McKesson (MCK) models for the Optum contract change as well as Cardinal’s new segments. For McKesson, the firm has raised its Pharma AOI expectations for FY25 following the Optum win and says it sees this and other factors as likely to provide upside to FY25 guidance compared to current Street expectations.
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