McKesson price target raised to $450 from $430 at Argus

Argus analyst David Toung raised the firm’s price target on McKesson to $450 from $430 and keeps a Buy rating on the shares. The company is benefiting from the recovery in visits to physicians’ offices as well as from growth in elective surgical procedures, having posted “solid” Q4 results in all three of its business segments, the analyst tells investors in a research note. The firm adds that when excluding COVID-related sales, McKesson projects strong growth in its core businesses in FY24.