Michael Cherny, an analyst from Leerink Partners, maintained the Buy rating on Cencora (COR – Research Report). The associated price target remains the same with $317.00.
Michael Cherny has given his Buy rating due to a combination of factors that highlight Cencora’s strategic position and growth potential. One of the key drivers is the substantial expansion of OneOncology, a company in which Cencora holds a significant 35% stake. The growth of OneOncology’s provider base, practice footprint, and sites of care has been impressive, indicating a strong value proposition for community oncology management services organizations (MSOs).
Furthermore, the acquisition of UUG’s practices has contributed significantly to OneOncology’s expansion, reinforcing the potential for further industry consolidation. This development is seen as a positive indicator for Cencora’s future prospects, especially given its options to increase its stake in OneOncology. These factors collectively support the view that Cencora is well-positioned to benefit from ongoing industry trends, justifying the Buy rating.
In another report released on April 17, Citi also maintained a Buy rating on the stock with a $330.00 price target.
Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COR in relation to earlier this year.