Cardinal Health (CAH) Price Target Upped by $4 After Beating Q1 Profit Estimates

With an upside potential of 27.02% as of May 3, Cardinal Health, Inc. (NYSE:CAH) is included among the 10 Best Fortune 500 Stocks to Buy According to Analysts.

Cardinal Health (CAH) Price Target Upped by $4 After Beating Q1 Profit Estimates

Cardinal Health, Inc. (NYSE:CAH) is a distributor of pharmaceuticals and specialty products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; a provider of performance and data solutions; and a global manufacturer and distributor of medical and laboratory products.

On May 1, TD Cowen upped its price target on Cardinal Health, Inc. (NYSE:CAH) from $251 to $255, while keeping a ‘Buy’ rating on the shares. The revised target, which indicates an upside of 30% from the current price levels, comes after the analyst company updated its model following Cardinal’s quarterly report.

Cardinal Health, Inc. (NYSE:CAH) reported its Q3 results on April 30, with its adjusted earnings of $3.17 per share beating estimates by $0.38. However, the company’s revenue of almost $61 billion fell short of expectations by $1.3 billion, despite a YoY growth of 11%. Cardinal’s Pharmaceutical revenue growth was hurt by Inflation Reduction Act-related changes that impacted the wholesale acquisition costs of ​drugs.

Notably, Cardinal Health, Inc. (NYSE:CAH) raised its full-year 2026 adjusted EPS target to $10.70 to $10.80 per share, up from its previous forecast of $10.15 to $10.35 and the analyst consensus of $10.31 ​per share.

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