Citi analyst Daniel Grosslight opened a “30-day positive catalyst watch” on shares of Cencora while keeping a Buy rating on the name with a $280 price target. The analyst believes the Q2 reports from the healthcare distribution group are set to a “stock pickers earnings season.” The firm likes the setup for Cencora the best. The 6% selloff since last quarter is overdone, the analyst tells investors in a research note. Citi says the secular trends that have driven Cencora’s recent strong results show no signs of abating.
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