UPDATE: Credit Suisse Raises PT on Cardinal Health Following F3Q Earnings Beat

In a report published Friday, Credit Suisse analyst Glen Santangelo reiterated an Outperform rating on Cardinal Health CAH, and slightly raised the price target from $51.00 to $52.00. In the report, Santangelo noted, “We are adjusting our model following the F3Q beat and updated guidance. Our new F13, F14, and F15 estimates are $3.72, $3.56, and $3.87 from $3.51, $3.63, and $3.93, respectively. Our model incorporates the latest assumptions around the WAG loss, CVS repricing, the AssuraMed deal, and capital deployment priorities. Our new PT of $52 (from $51) assumes the shares can trade at roughly 14x our C14 estimate of $3.71. We assign a slightly higher target multiple given the removal of the WAG & CVS overhangs.” Cardinal Health closed on Thursday at $46.16.