McKesson price target raised to $670 from $570 at Argus

Argus raised the firm’s price target on McKesson to $670 from $570 and keeps a Buy rating on the shares. Having divested the majority of its underperforming European distribution operations and improved the performance of its Prescription Technology Solutions business, the company is now on a path to more profitable growth, the analyst tells investors in a research note. Argus adds that as one of the nation’s largest distributors of pharmaceuticals and medical-surgical products, McKesson is benefiting from a recovery in patient visits to physicians’ offices, which has boosted volume for both diagnostic tests and prescriptions.