Cencora

(New York Stock Exchange)
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Bullish +65

Cencora (COR) Receives a Buy from Wells Fargo - The Globe and Mail

AI-generated analysis

📈 Wells Fargo analyst Stephen Baxter reiterates a Buy rating on Cencora with a new price target of $331.00.

📉 The analyst lowered the price target from $429, though it remains above the current stock price of $267.01.

💰 Cencora reported quarterly revenue of $78.36 billion and net profit of $1.64 billion for the quarter ended March 31.

📊 Year-over-year growth is evident with revenue increasing from $75.45 billion and net profit rising to $1.64 billion.

🎯 The Street maintains a Strong Buy consensus with an average price target of $358.40, suggesting 34.23% upside.

🔮 Cencora backs its FY26 adjusted EPS view at $17.70-$17.90, narrowing slightly from previous guidance.

🚀 The company projects long-term adjusted EPS growth of 10%-14% for the foreseeable future.

🏆 TD Cowen also supports the stock with a Buy rating and a $400.00 price target set in May.

Bullish Signals
  • Wells Fargo analyst Stephen Baxter maintains a Buy rating on Cencora, indicating continued confidence in the company's fundamentals.
  • Cencora achieved significant year-over-year growth with revenue increasing from $75.45 billion to $78.36 billion in the latest quarter.
  • Net profit more than doubled from $717.87 million last year to $1.64 billion, demonstrating strong operational efficiency.
  • The broader analyst consensus is a Strong Buy with an average price target of $358.40, implying substantial upside potential.
  • TD Cowen recently reiterated a Buy rating with a high $400.00 price target, reinforcing positive market sentiment.
  • Cencora maintains a robust long-term adjusted EPS growth outlook of 10%-14%, signaling sustained profitability expansion.
Risk Factors
  • Wells Fargo analyst Stephen Baxter lowered the price target from $429 to $331, indicating some caution or adjustment in valuation expectations.
  • The current stock price of $267.01 is significantly below the average analyst price target of $358.40, suggesting potential volatility if targets are not met.
Full Analysis
Wells Fargo analyst Stephen Baxter has reiterated his Buy rating on Cencora (COR), setting a price target of $331.00, which is lower than the previous target of $429. The company's shares closed at $267.01 prior to the report. Baxter covers the Healthcare sector and includes Cencora alongside peers like McKesson and Elevance Health in his coverage. The broader market sentiment remains positive for Cencora, with a strong Buy consensus rating and an average price target of $358.40 across analysts, implying 34.23% upside from current levels. TD Cowen also recently reiterated a Buy rating with a $400.00 price target in a report released on May 11. Cencora reported strong financial results for the quarter ending March 31, with revenue reaching $78.36 billion and net profit of $1.64 billion, compared to $75.45 billion in revenue and $717.87 million in profit a year ago. The company maintains its long-term adjusted EPS growth outlook between 10% and 14%.