UPDATE: Bank Of America Raises PT On Cardinal Health On Attractive Valuation

In a report published Monday, Bank of America analyst Robert M. Willoughby reiterated a Buy rating on

, and raised the price target from $86.00 to $90.00. In the report, Bank of America noted, “Returns from its Red Oak generic sourcing JV should be evident in an improving gross profit margin over the course of 2015, and it should see added benefits from continued generic drug inflation. At 9.2x CY15 EV/EBITDA, we believe valuation remains attractive relative to AmerisourceBergen and McKesson (10.2x and 11.0x, respectively), despite the highest dividend yield in the subsector.” Cardinal Health closed on Friday at $81.84.