UPDATE: Sterne Agee Upgrades Cardinal Health to Buy, Raises PT on New Valuation

In a report published Wednesday, Sterne Agee analyst Greg T. Bolan upgraded the rating on

from Neutral to Buy, and raised the price target from $59.00 to $73.00. In the report, Sterne Agee noted, “After much thought and analysis, we feel it appropriate to raise our estimates and price target for CAH. Based on our new valuation, we believe investors should actively accumulate CAH shares. We believe superior EPS growth to that of S&P 500 operating EPS warrants a superior valuation multiple to the S&P, and as such, believe investors will outperform the broader markets by owning CAH shares.” Cardinal Health closed on Tuesday at $60.56.