Analysts Are Upgrading These 5 Stocks

3. Cardinal Health, Inc. (NYSE:CAH)

Number of Hedge Fund Holders: 45

Baird turned bullish on Cardinal Health, Inc. (NYSE:CAH) after its latest earnings. Analyst Eric Coldwell upgraded the healthcare services company from “Neutral” to “Outperform” on Friday, February 3.

Coldwell believes the company’s Pharmaceutical segment is catching up with rivals in terms of profit growth. The analyst also increased its price target for Cardinal Health, Inc. (NYSE:CAH) from $87 per share to $94 per share.

Cardinal Health, Inc. (NYSE:CAH) last week reported adjusted earnings of $1.32 per share for Q4, up 4 percent on a year-over-year basis. Revenue for the quarter also jumped 13 percent to $51.5 billion. Analysts were looking for earnings of $1.14 per share on revenue of $50.74 billion.

In addition, Cardinal Health, Inc. (NYSE:CAH) increased its fiscal 2023 earnings outlook to a range of $5.20 – $5.50 per share, from $5.05 – $5.40 per share.

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