Morgan Stanley has decided to maintain its Overweight rating of McKesson MCK and raise its price target from $403.00 to $420.00.
Shares of McKesson are trading up 2.84% over the last 24 hours, at $384.67 per share.
A move to $420.00 would account for a 9.18% increase from the current share price.
McKesson is a leading wholesaler of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with AmerisourceBergen and Cardinal Health, the three account for well over 90% of the U.S. pharmaceutical wholesale industry. McKesson is currently divesting from its pharmaceutical wholesale and distribution in Europe and Canada in order to redeploy capital to strategic growth areas in the U.S. (oncology network and ecosystem, and biopharma services). Additionally, the company supplies medical-surgical products and equipment to healthcare facilities and provides a variety of technology solutions for pharmacies.
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