UPDATE: Bank Of America Reiterates On McKesson Ahead Of 4Q14 EPS
In a report published Tuesday, Bank of America analyst Robert M. Willoughby reiterated an Underperform rating on McKesson (NYSE: MCK), and raised the price target from $160.00 to $165.00.
In the report, Bank of America noted, “Rebounding profitability in MCK's core drug wholesaling operations, traction for its ancillary franchises, and capital deployment initiatives should drive industry-leading earnings growth over a leaner infrastructure. However, at valuation highs following the announcement of its Celesio acquisition, we see more attractive investment opportunities elsewhere.”
McKesson closed on Monday at $174.23.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.