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MCK

McKesson

$141.40

-0.67 (-0.47%)

08:27
05/19/17
05/19
08:27
05/19/17
08:27

McKesson Q4, outlook validate Overweight thesis, says Barclays

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.

  • 24

    May

  • 26

    May

MCK McKesson
$141.40

-0.67 (-0.47%)

05/11/17
WELS
05/11/17
NO CHANGE
WELS
Market Perform
Teva faces 'underappreciated risk' from major generic RFPs, says Wells Fargo
Wells Fargo analyst David Maris noted that Teva's generic drug price erosion came in at 7% in Q1, adding that Teva's management, which previously indicated that they expected price erosion in the U.S. to be 5%, "did not explain well" how the factors that negatively impacted prices were not fully anticipated. Also, there are currently two major generic Request for Proposals out for bid - one from Express Scripts (ESRX), Albertson's and Kroger (KR) and one from Walmart (WMT) and McKesson (MCK) - and the potential price reset from these is an "underappreciated risk" facing Teva, added Maris, who keeps a Market Perform rating on the stock.
05/17/17
JEFF
05/17/17
INITIATION
Target $153
JEFF
Hold
McKesson initiated with a Hold at Jefferies
Jefferies analyst Brian Tanquilut started McKesson with a Hold rating and $153 price target. The analyst expects accelerating generic drug price deflation and moderating brand drug inflation will continue to pressure the company's growth.
05/19/17
JEFF
05/19/17
NO CHANGE
Target $153
JEFF
Hold
McKesson FY18 guidance is below consensus, says Jefferies
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.
05/19/17
LEER
05/19/17
NO CHANGE
Target $140
LEER
Market Perform
McKesson earnings beat low quality, says Leerink
Leerink analyst David Larsen views McKesson's earnings beat in Q4 as low quality since most of the upside came from a lower tax rate and lower share count. Excluding these two items, the company would have missed consensus by 4c, Larsen tells investors in a research note. While the initial FY18 earnings outlook looks good, management changed the definition of adjusted earnings, the analyst adds. The analyst believes the earnings outlook of $11.75-$12.45 would have been $1.30 lower had the definition not been changed. The business, however, appears to be stabilizing, Larsen adds. He keeps a Market Perform rating on McKesson with a $140 price target.

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