Cencora price target lowered to $237 from $249 at Wells Fargo

Wells Fargo lowered the firm’s price target on Cencora (COR) to $237 from $249 and keeps an Equal Weight rating on the shares. The firm updated estimates and price targets for the drug distribution group following the results and recent mergers. It is “generally constructive” on core distribution fundamentals into 2025, but says valuations and overhangs leave it neutral across the group.