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Barclays analyst Glen Santangelo maintains McKesson (NYSE:MCK) with a Overweight and raises the price target from $925 to $1000.
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Cardinal Health's generics business continues to be a steady profit contributor, with fiscal 2026 volume growth exceeding long-term planning assumptions of 2-3%. The company expects fiscal 2027 to benefit from new generic launches, brand-to-generic conversions, and stable Red Oak program dynamics, supporting projected Pharma segment profit growth of 8-11%. Peers McKesson and Cencora also show strength in their pharmaceutical distribution and generics portfolios.
A $1,000 investment in McKesson (MCK) made in September 2016 would be worth $4,795.36 as of September 1, 2026, representing a 379.54% gain and significantly outperforming the S&P 500's 254.05% return. The pharmaceutical distributor is benefiting from growth in specialty pharmaceuticals, oncology services, and GLP-1 medications, with FY26 revenues reaching $403.4 billion and adjusted EPS up 18% year-over-year. Analysts remain optimistic with recent earnings estimate revisions and raised fiscal 2027 guidance.