These Analysts Increase Their Forecasts On McKesson Following Q4 Results
Portfolio Pulse from Avi Kapoor
McKesson Corporation (NYSE:MCK) reported Q4 earnings below market expectations, with adjusted earnings of $6.18 per share against forecasts of $6.34, and sales of $76.40 billion compared to expected $79.32 billion. Despite this, the company's FY25 earnings outlook exceeds estimates, leading to a 2.3% rise in its shares. Analysts from Baird and UBS subsequently raised their price targets on McKesson.
May 08, 2024 | 1:15 pm
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McKesson's Q4 earnings missed expectations but provided a stronger FY25 earnings forecast, leading to a share price increase and higher analyst price targets.
The short-term impact on MCK's stock is positive due to the company's optimistic FY25 earnings outlook, which has outweighed the negative impact of the Q4 earnings miss. This optimism is further bolstered by analyst upgrades from Baird and UBS, indicating confidence in the company's future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100