McKesson price target lowered to $535 from $576 at Wells Fargo

Wells Fargo analyst Stephen Baxter lowered the firm’s price target on McKesson to $535 from $576 and keeps an Equal Weight rating on the shares. Uncertainty remains elevated as delivering on 2025 guidance now seems to require larger ramp in the second half, the analyst tells investors in a research note. The stock could be rangebound until McKesson demonstrates achievability, the firm argues.