McKesson Corporation (NYSE:MCK) is among them 14 Best American Stocks to Invest in.
On March 6, Bank of America raised its price target on McKesson Corporation (NYSE:MCK) from $970 to $1,040. It reiterated a buy rating on the shares. McKesson recently received a new national drug code for a biosimilar version of Neulasta, the company noted. The approval came a few weeks ago and didn’t attract much attention at first. Some investors remain skeptical of McKesson’s ambitions in this regard. The company said the reaction may be premature.
In his opinion, the market may be overlooking the opportunity associated with several major biosimilars expected to be launched in the next few years. Seven are expected to hit the market, including four that McKesson can directly respond to. The company said the outlook supports the possibility that the company could benefit from co-production arrangements as the biosimilar market expands. It raised its McKesson price target to reflect this optimism. The company also raised its target on Cincora to account for similar opportunities.
McKesson Corporation (NYSE:MCK) is a diversified healthcare company focused on improving health outcomes for patients. Its US pharmaceuticals segment distributes branded, generic, specialty, biosimilar and over-the-counter medicines in the United States, along with other healthcare-related products.
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