Argus analyst David Toung raised the firm’s price target on Cencora to $240 from $220 and keeps a Buy rating on the shares. The analyst expects the company’s growth in fiscal 2024 to be driven by the increased utilization of specialty and oncology therapies and continued uptake of GLP-1. The company has “strong growth opportunities and superior business execution,” the analyst tells investors in a research note. The firm also expects Cencora’s revenue and earnings to benefit from the recent Alliance Healthcare and PharmaLex acquisitions.
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