BofA Raises McKesson Price Target Following Strong Q3 Results and Upgraded Guidance

Bank of America (BofA) has reiterated its 'Buy' rating and raised its price target for McKesson Corporation (MCK) following the company's impressive third-quarter financial performance. McKesson's revenue reached $79 billion, while adjusted earnings per share (EPS) hit $7.04, both significantly exceeding Wall Street's consensus estimates. The robust performance was primarily driven by high prescription volumes within the U.S. pharmaceutical segment and surging demand for specialty medications. Notably, the popularity of GLP-1 drugs and growth in the Oncology and Multispecialty segments played a crucial role in the company's top-line expansion. In light of these results, the company has raised its adjusted EPS guidance for the upcoming fiscal year, signaling continued momentum. Analysts believe that the combination of an earnings beat and improved outlook provides a strong bullish catalyst for the stock's future performance.