McKesson (MCK) is a Stock That “Defies The President,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About.  McKesson Corporation (NYSE:MCK) is one of the stocks on Jim Cramer talked about.

McKesson Corporation (NYSE:MCK) is one of the largest healthcare products and services providers in America. Its shares have gained 42% over the past year but are down by 5% since late November. In December, Deutsche Bank raised McKesson Corporation (NYSE:MCK)’s share price target to $904 from $861 and kept a Buy rating on the stock. As part of its coverage, the financial firm commented that the healthcare company’s plans to exit its surgical business, through a spin off could be dilutive but also contribute to share price performance. During the same month, TD Cowen kept a Buy rating and a $1,000 share price target for McKesson Corporation (NYSE:MCK)’s stock. The financial firm cited optimism in the health company’s ability to achieve growth and meet its long-term targets. Cramer commented on McKesson Corporation (NYSE:MCK) in the context of President Trump’s feelings about its industry. When asked what he expected to see at the JPMorgan Healthcare Conference, the CNBC TV host replied:

“Most favored nation, the President trying to get pricing down and do direct. Maybe that cuts out the middleman. You can see that it might be bad for McKesson, the President has said he doesn’t like that group. That stock keeps hitting a 52 week high, so, that stock defies the President. Look out.”

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Disclosure: None. This article is originally published at Insider Monkey.