TD Cowen lifts McKesson PT to Street-high after drug distributor raises forecast
TD Cowen raised drug distributor McKesson's MCK.N PT from $830 to a Street-high of $864
New PT represents an 16.5% upside to the stock's last close
Brokerage sees upside for MCK, citing a stronger outlook for North America pharma and oncology/multispecialty and the lift to long‑term adjusted EPS targets
TD Cowen says that since biosimilar interchangeability is not currently factored into MCK's guide it presents substantial upside
Biosimilar interchangeability means a copy of a biologic medicine can be swapped in at the pharmacy for the original without the doctor needing to change the prescription, because it's proven to work the same and be just as safe
At least six brokerages raised their PT after MCK raised its annual profit forecast on Tuesday
As of last close, MCK stock was up ~31% YTD
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