McKesson price target raised to $510 from $480 at Argus

Argus raised the firm’s price target on McKesson to $510 from $480 and keeps a Buy rating on the shares. Having divested the majority of its underperforming European distribution operations and improved the performance of its Prescription Technology Solutions business, the company is on the path to more profitable growth, the firm says. The company is working to grow its customer base post-pandemic, as it adds new capabilities and technologies, and divests underperforming assets. As one of the nation’s largest distributors of pharmaceuticals and medical-surgical products, McKesson is benefiting from a recovery in patient visits to physicians’ offices, Argus adds.