Argus lowered the firm’s price target on McKesson to $570 from $640 and keeps a Buy rating on the shares. The company is riding the tailwinds of higher utilization of specialty and oncology drugs and higher volumes of GLP- 1 drugs while also redeploying capital into its core growth strategy, which includes divesting its European and Canadian retail operations, and focusing on M&A such as the recent acquisition of oncology distribution networks, the analyst tells investors in a research note. Argus adds however that its reduced price target reflects the negative impact of higher interest rates on equity valuations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCK:
- McCormick price target raised to $86 from $85 at Jefferies
- Notable companies reporting before tomorrow’s open
- McKesson price target lowered to $579 from $623 at Deutsche Bank
- Deere dips after Trump tariff threat, DOJ to sue Visa: Morning Buzz
- Walmart upgraded, Starbucks downgraded: Wall Street’s top analyst calls