In a report released yesterday, Michael Cherny from Merrill Lynch reiterated a Buy rating on McKesson (MCK), with a price target of $160. The company’s shares opened today at $148.25, close to its 52-week high of $149.99.
Cherny has an average return of 2.1% when recommending McKesson.
According to TipRanks.com, Cherny is ranked #1227 out of 5253 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for McKesson with a $151.80 average price target, implying a 2.4% upside from current levels. In a report issued on July 22, J.P. Morgan also resumed coverage with a Buy rating on the stock with a $164 price target.
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Based on McKesson’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $55.73 billion and net profit of $423 million. In comparison, last year the company earned revenue of $52.61 billion and had a GAAP net loss of $138 million.
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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical and Specialty Solutions; European Pharmaceutical Solutions; Medical-Surgical Solutions and Other.