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Fly News Breaks for May 19, 2017
MCK
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
MCK
May 23, 2017 | 10:21 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McKesson (MCK) upgraded to Overweight from Neutral at JPMorgan with analyst Lisa Gill saying she believes additional value should be unlocked from the Change transaction and that the valuation discount versus peers is unwarranted. 2. Aegion (AEGN) upgraded to Buy from Hold at Craig-Hallum with analyst Eric Stine saying the recent pullback provides an attractive opportunity to own a "high-quality company" with positive trends across much of its business. 3. Wingstop (WING) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Karen Holthouse saying there is upside to her $36 price target. Holthouse believes Wingstop is well positioned for digital ordering and off-premise tailwinds and expects an acceleration in same-store-sales driven by national advertising momentum. 4. Parexel (PRXL) upgraded to Neutral from Sell at Goldman Sachs with analyst Robert Jones citing reduced consensus expectations and industry consolidation. 5. On Deck Capital (ONDK) upgraded to Outperform from Market Perform at FBR Capital with analyst Bob Ramsey saying he believes the company's path to profitability creates "significant" upside for the shares over the next 12 months. 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
May 23, 2017 | 06:30 EDT
JPMorgan analyst Lisa Gill upgraded McKesson to Overweight and raised her price target for the shares to $189 from $167. The analyst believes additional value should be unlocked from the Change transaction and that the valuation discount versus peers is unwarranted.
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