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Fly News Breaks for May 19, 2017
MCK
May 19, 2017 | 08:17 EDT
Jefferies analyst Brian Tanquilut says that while McKesson's FY18 guidance came in above consensus on the surface, a deeper look suggests that absent a $200M deferred revenue adjustment for Change Healthcare and a lower tax rate, the apples-to-apples comparison was an earnings per share outlook of $10.81-$11.51 versus the $11.45 consensus. On an apples-to-apples basis, the earnings guidance is below consensus, Tanquilut tells investors in a post-earnings research note. He keeps a Hold rating on McKesson. The stock in premarket trading is up 8% to $153.00.
News For MCK From the Last 2 Days
MCK
Sep 19, 2017 | 10:31 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Gap (GPS) upgraded to Neutral from Underperform at Credit Suisse analyst Christian Buss saying his firm's brick-and-mortar real estate analysis indicates Gap is better positioned than he thought. 2. Michael Kors (KORS) upgraded to Outperform from Perform at Oppenheimer with analyst Anna Andreeva saying the turnaround in retail is just starting, while sentiment on the shares is "extremely negative." 3. McKesson (MCK) upgraded to Outperform from Neutral at Baird with analyst Eric Coldwell calling his rating change a "tactical/trading call" following the shares' material underperformance, both year-to-date and over the last twelve months. 4. NetApp (NTAP) upgraded to Buy from Neutral at UBS with analyst Steven Milunovich saying NetApp's product position is improved with a re-write of its storage software contributing to all-flash success. 5. Knight-Swift (KNX) resumed with a Buy from Neutral at Citi with analyst Christian Wetherbee saying the truck market recovery appears to be accelerating in the second half of 2017, and Knight-Swift is best levered to an improving truckload market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MCK
Sep 19, 2017 | 07:38 EDT
RBC Capital analyst George Hill started coverage of McKesson with a $168 price target and a Sector Perform rating.
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