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Fly News Breaks for May 19, 2017
May 19, 2017 | 08:27 EDT
Barclays analyst Eric Percher believes McKesson's Q4 results and FY18 outlook commentary validate his thesis that independent channel pricing pressures largely reset by the end of 2016 and distributor volume began to rebound. The analyst notes that when adjusting for certain items, the FY18 adjusted earnings outlook of $11.75-$12.45 modestly beat his estimate. Percher sees catalysts for multiple expansion and reiterates an Overweight rating on McKesson with a $174 price target.
News For MCK From the Last 2 Days
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.
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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