McKesson downgraded to Neutral from Outperform at Baird

Baird analyst Eric Coldwell downgraded McKesson to Neutral from Outperform with a price target of $531, down from $603. The firm says a “wall of worry may mount” into the company’s November reporting. Two bad earnings prints and other concerns and frustrations mounted over last several months, says Baird, who sees the shares fading into the November update. Optimism on quality beats-and-raise quarters are fading, the analyst tells investors in a research note. The firm says McKesson “needs to reset and get back in the Street’s good graces.”