Wells Fargo Boosts Cardinal Health Price Target to $256 after Q2 Beat
Wells Fargo raised its price target for Cardinal Health to $256 from $237 and reiterated an Overweight rating following Q2 outperformance. The company reported Q2 revenue of $65.63 billion, lifted full-year adjusted EPS guidance to $10.15–$10.35, and highlighted broad strength in Pharmaceutical and Specialty segments driven by specialty medicine demand.
1. Wells Fargo Raises Outlook
On February 10, Wells Fargo lifted its price target for Cardinal Health to $256 from $237 and maintained an Overweight rating after noting strong Q2 outperformance and revising upward its earnings estimates.
2. Q2 Results and Fiscal Guidance
The company reported Q2 revenue of $65.63 billion and adjusted EPS of $2.63, both surpassing expectations, and raised its full-year adjusted EPS forecast to a range of $10.15–$10.35, triggering a stock rally of over 9%.
3. Segment Performance and GLP-1 Commentary
Broad growth in the Pharmaceutical and Specialty segments, driven by specialty medicine demand, underpinned the guidance boost, while management said GLP-1 drug sales offer long-term opportunity but minimal near-term profit impact.