Cardinal Health coverage resumed with an Overweight at JPMorgan Price target lowered to $47 from $50. The firm says that while the loss of Walgreens could limit share upside in the near-term, it keeps a positive long-term view on Cardinal Health.
Cardinal Health raises FY16 non-GAAP EPS to $4.85-$5.05 from $4.28-$4.38 FY16 EPS consensus of $4.37. The updated guidance is due to strong FY15 performance momentum it carried into FY16. It expects financial performance to be weighted towards 2H16.