UPDATE: Baird Equity Research Reiterates on McKesson Corporation on Very Positive Outlook

In a report published Friday, Baird Equity Research analyst Eric W. Coldwell reiterated an Outperform rating on

, and raised the price target from $150.00 to $191.00. In the report, Baird Equity Research noted, “[We] recommend aggressive purchase. MCK posted another monster quarter and raised guidance by a healthy margin. All systems appear to be firing. The Celesio deal makes sense and is highly accretive. While we'll integrate the impending Celesio deal in future updates, we think the Street will model ~$11 EPS run rate exiting FY15 and apply a 17x-plus PE. Our new price target is $191.” McKesson Corporation closed on Thursday at $150.00.