Barclays Lifts McKesson Target to $1,050, Norway Unit Sold to NorgesGruppen
Barclays raised its price target on McKesson to $1,050 from $960 and said shares trade at a 15% premium to their three-year average. On Jan. 30 the company completed the sale of its Norway retail and distribution business to NorgesGruppen as shares rose 58% over the year on institutional inflows.
1. Barclays Price Target Upgrade
On February 18 Barclays lifted its price objective on McKesson to $1,050 from $960 and reiterated an Overweight rating, highlighting the stock’s 15% premium to its three-year average valuation.
2. Norway Unit Divestiture
On January 30 McKesson finalized the sale of its Norway retail and distribution business to private group NorgesGruppen, completing its exit from European operations and marking the last step in its restructuring aimed at focusing on core segments.
3. Share Gains and Institutional Inflows
McKesson shares have gained 58% over the past year, driven by substantial institutional inflows as investors seek safety in healthcare. The company plans to deploy capital toward Oncology, Multispecialty and Biopharma Services to support long-term growth priorities.