Auriga Reiterates Buy, $95 Target on McKesson

Auriga maintains its Buy rating and $95 target price on McKesson MCK as the company looks to invest $1 billion in health IT. Auriga says, “Better Health is a corporate communications platform encompassing four broad areas – improving outcomes through integrated core financial and clinical IT platforms, reducing supply chain costs, improving connectivity using its RelayHealth platform for health information exchange, and pharmacy clearinghouse, among other weapons, and finally, managing increasing complexity and risk through new structural relationships like Accountable Care Organizations (ACOs) and bundled payments.” MCK closed at $79.74 per share on Friday.