Cencora price target raised to $235 from $213 at Wells Fargo

Wells Fargo raised the firm’s price target on Cencora to $235 from $213 and keeps an Equal Weight rating on the shares. The firm notes fiscal Q1 2024 results were strong, with Cencora posting upside in “core” U.S. results, COVID contribution, and International results. Wells is also increasing forward EPS estimates by 3%-4%.