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Bank of America Merrill Lynch Reiterates Buy Rating, $100 PT on McKesson Corporation

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In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating and $100.00 price target on McKesson Corporation (NYSE: MCK).

BofA Merrill Lynch noted, “We are ever wary of MCK's capital deployment effort, which has been skewed toward acquisitions across its businesses that call into question the company's ability to earn a return on an expanding intangible asset base. Even so, we still favor MCK and its drug distributor peers as defensive names in equity markets where reimbursement, reform, and debt ceiling concerns are detracting from the allure of health care services stocks. We believe better revenue trends should be a mainstay in the coming quarters, and MCK can pull a number of levers (business mix, economies of scale, and acquisitions and other capital deployment) to top earnings expectations.”

McKesson Corporation closed on Monday at $96.93.

Latest Ratings for MCK

DateFirmActionFromTo
Jan 2017JP MorganDowngradesOverweightNeutral
Jan 2017MizuhoDowngradesBuyNeutral
Nov 2016Credit SuisseDowngradesNeutralUnderperform

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Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

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