McKesson price target lowered to $630 from $670 at Citi

Citi lowered the firm’s price target on McKesson to $630 from $670 and keeps a Buy rating on the shares. There has been limited improvement in the company’s Pharmacy Systems and Technology and Medical-Surgical segments, which, when combined with a slightly higher than anticipated tax rate in Q2, implies a steeper second half ramp, the analyst tells investors in a research note. The firm says that given limited visibility into these segments, “this does introduce more risk into the model.”