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MCK

McKesson

$150.55

-0.12 (-0.08%)

, CAH

Cardinal Health

$65.99

-0.34 (-0.51%)

09:53
10/13/17
10/13
09:53
10/13/17
09:53

Drug distributors fall after 60 Minutes teases report on DEA whistleblower

Drug distributors are being accused by the "highest-ranking DEA agent ever to turn whistleblower," former Deputy Assistant Administrator Joe Rannazzisi, of fueling the opioid epidemic in the U.S., said 60 Minutes in a preview of a feature that was the result of a joint investigation The Washington Post. In his interview, Rannazzisi mentions the three largest distributors - AmerisourceBergen (ABC), Cardinal Health (CAH), McKesson (MCK) - by name. The 60 Minutes double-length segment will be aired and a report will be published by The Post on Sunday, Oct. 15.Shares of all three of the drug distributors mentioned are lower in early trading. Reference Link

MCK

McKesson

$150.55

-0.12 (-0.08%)

CAH

Cardinal Health

$65.99

-0.34 (-0.51%)

ABC

AmerisourceBergen

$80.79

-0.01 (-0.01%)

  • 26

    Oct

  • 02

    Nov

  • 06

    Nov

MCK McKesson
$150.55

-0.12 (-0.08%)

10/10/17
10/10/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Prudential (PRU) upgraded to Buy from Neutral at FBR Capital. 2. RBS (RBS) was upgraded to Neutral from Sell at Citi and to Neutral from Underperform at Credit Suisse. 3. Palo Alto Networks (PANW) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss saying he sees building traction across the company's portfolio of solutions and he views it as one of the best positioned vendors to execute on an integrated security platform story. 4. Illinois Tool Works (ITW) upgraded to Neutral from Underweight at JPMorgan with analyst Ann Duignan saying organic growth is likely to be better than forecast in the third quarter. 5. McKesson (MCK) upgraded to Outperform from Market Perform at Cowen with analyst Charles Rhyee saying the transition towards differential specialty pricing will drive both earnings growth and multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/17
COWN
10/10/17
UPGRADE
Target $189
COWN
Outperform
McKesson upgraded to Outperform from Market Perform at Cowen
Cowen analyst Charles Rhyee upgraded McKesson (MCK) to Outperform saying the transition towards differential specialty pricing will drive both earnings growth and multiple expansion. Distributor stocks, historically, fare very well coming out of a business model transition, Rhyee tells investors in a research note. He raised his price target for the shares to $189 from $176. The analyst this morning also upgraded AmerisourceBergen (ABC) to Outperform. Rhyee prefers both McKesson and AmerisourceBergen over Market Perform-rated Cardinal Health (CAH). He lowered his price target for the latter to $74 from $77.
09/19/17
09/19/17
UPGRADE
Target $178

Outperform
McKesson upgraded to Outperform on 'trading call' at Baird
As previously reported, Baird analyst Eric Coldwell upgraded McKesson to Outperform from Neutral, calling his rating change a "tactical/trading call" following the shares' material underperformance, both year-to-date and over the last twelve months. Over 80% of analysts are neutral/negative and consensus estimates across distributors are starting to make sense, he tells investors, adding that McKesson is building a "much more balanced" model. Coldwell raised his price target on the stock to $178 from $175.
09/19/17
09/19/17
UPGRADE

On The Fly: Top five analyst upgrades
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.
CAH Cardinal Health
$65.99

-0.34 (-0.51%)

10/10/17
10/10/17
NO CHANGE

Correction: Cowen maintains Market Perform rating on Cardinal Health
09/14/17
LEER
09/14/17
NO CHANGE
LEER
Minimal hurricane exposure for pharma supply chain, says Leerink
Leerink analyst David Larsen sees less than 1% impact to revenues and earnings to companies in his coverage from Hurricane Harvey and Irma and believes any effects will be viewed as one-time in nature. The analyst notes that "the percentage of state impacted" and "days of impact" are particularly challenging variables in his model to estimate, but based on various assumptions he believes the hurricanes will prove to be a minor event for Express Scripts (ESRX), AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK). Nonetheless, Larsen says pharmacy retailers Walgreens Boots Alliance (WBA) and CVS Health (CVS) may face some store closures and possible damage costs.
09/19/17
RBCM
09/19/17
INITIATION
RBCM
Sector Perform
Cardinal Health initiated with a Sector Perform at RBC Capital
RBC Capital analyst George Hill started coverage of Cardinal with a $72 price target and a Sector Perform rating.
ABC AmerisourceBergen
$80.79

-0.01 (-0.01%)

10/10/17
COWN
10/10/17
UPGRADE
Target $98
COWN
Outperform
AmerisourceBergen upgraded to Outperform from Market Perform at Cowen
Cowen analyst Charles Rhyee upgraded AmerisourceBergen to Outperform saying the transition towards differential specialty pricing will drive both earnings growth and multiple expansion. Distributor stocks, historically, fare very well coming out of a business model transition, Rhyee tells investors in a research note. He raised his price target for the shares to $98 from $88.
10/05/17
BARD
10/05/17
UPGRADE
BARD
Outperform
AmerisourceBergen upgraded to Outperform from Neutral at Baird
10/05/17
BARD
10/05/17
UPGRADE
Target $96
BARD
Outperform
AmerisourceBergen upgraded to Outperform at Baird
As previously reported, Baird analyst Eric Coldwell upgraded AmerisourceBergen to Outperform from Neutral ahead of the company's 2018 guidance. The analyst notes the shares trade in-line with peers but he sees the company having a straightforward story based on client contracts, business mix, and capital deployment flexibility, among other factors. Coldwell raised his price target to $96 from $89 on AmerisourceBergen shares.

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NFX

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$26.23

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$34.55

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  • 22

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MCS

Marcus

$26.10

1 (3.98%)

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PHX

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CRM

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$6.26

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