Argus lowered the firm’s price target on McKesson to $640 from $670 but keeps a Buy rating on the shares. The firm cites the recent market volatility driving its price target cut but also sees the company benefiting from the tailwinds of higher utilization of specialty and oncology drugs and higher volumes of GLP-1 drugs, the analyst tells investors in a research note. McKesson supports over 650 branded therapies in biotech and pharmaceuticals and also has a strong footprint in therapeutic areas, including oncology, neurology, gastroenterology, endocrinology and cardiology, the firm added.
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