Wells Fargo upgraded Cardinal Health (CAH) to Equal Weight from Underweight with a price target of $127, up from $101. The firm says its prior Underweight thesis is “increasingly in the rearview mirror.” The prior thesis was predicated on Optum headwind, which Cardinal seems to be managing through well, and inferior long-term growth, which the company has begun to remedy through acquisitions, the analyst tells investors in a research note.
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