Wells Fargo Affirms McKesson (MCK) Equal Weight Rating and $766 Price Target

McKesson Corporation (NYSE:MCK) is one of the best 52-week high stocks to buy, according to analysts. On June 10, Wells Fargo reiterated an Equal Weight on the stock and a $766 price target. The bullish stance is in response to the company increasing its full-year earnings per share guidance by 0.5%.

A healthcare professional preparing a vial for a patient in need of biotechnology services.

The company has raised the bar for its performance by adjusting its full-year EPS guidance. It underscores prospects of a potential increase in profitability amid underlying growth. Nevertheless, Wells Fargo remains cautious, insisting the stock is adequately valued at current levels.

The remarks come on the company completing the acquisition of a 70% controlling interest in Community Oncology Revitalization Enterprise Ventures. The $2.49 billion acquisition is part of the company’s strategy of enhancing community-based oncology care.

McKesson Corporation (NYSE:MCK) is a diversified healthcare services company that is a major pharmaceutical supply chain player. It provides distribution, healthcare services, and medical supplies and equipment. It works with various partners, including biopharma companies, healthcare providers, pharmacies, manufacturers, and governments.

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