Robert W. Baird Forecasts Strong Price Appreciation for Cencora (NYSE:COR) Stock

Key Points

• Robert W. Baird raised Cencora’s price target from $373 to $375 and maintained an “outperform” rating, implying approximately 10.15% upside from the prior close.
• Analyst sentiment remains favorable, with 14 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $366.44.
• Cencora exceeded quarterly expectations, reporting $4.48 in adjusted EPS versus $4.35 expected and $84.75 billion in revenue; its proposed $2.4 billion acquisition of American Oncology Network could further expand its oncology platform, though integration and financing remain risks.

Cencora (NYSE:COR - Get Free Report) had its price objective lifted by research analysts at Robert W. Baird from $373.00 to $375.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 10.15% from the company's previous close.

COR has been the subject of a number of other reports. Evercore reaffirmed an "outperform" rating and issued a $350.00 target price (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Citigroup restated a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Bank of America raised their price objective on Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their price objective on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Finally, Argus lifted their price objective on Cencora from $340.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $366.44.

Cencora Stock Performance

NYSE:COR opened at $340.43 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The stock has a market cap of $64.96 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The firm's fifty day simple moving average is $321.45 and its 200-day simple moving average is $303.77.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.00 EPS. Analysts expect that Cencora will post 17.87 earnings per share for the current fiscal year.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company's stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cornerstone Wealth Group LLC lifted its stake in Cencora by 1.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 2,434 shares of the company's stock valued at $760,000 after buying an additional 38 shares in the last quarter. Pinnacle Associates Ltd. increased its position in Cencora by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company's stock worth $662,000 after buying an additional 38 shares in the last quarter. OLD National Bancorp IN raised its holdings in shares of Cencora by 0.4% in the first quarter. OLD National Bancorp IN now owns 9,964 shares of the company's stock worth $3,130,000 after acquiring an additional 40 shares during the last quarter. Staley Capital Advisers Inc. raised its holdings in shares of Cencora by 0.7% in the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company's stock worth $1,925,000 after acquiring an additional 40 shares during the last quarter. Finally, Elmwood Wealth Management Inc. raised its holdings in shares of Cencora by 0.9% in the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock worth $1,221,000 after acquiring an additional 40 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Cencora

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Cencora agreed to acquire the remaining 96% stake in American Oncology Network in a transaction valued at approximately $2.4 billion. The deal would add about 350 physicians and strengthen Cencora’s support of community oncology practices, potentially expanding its provider network and oncology-related revenue opportunities. Reuters article on Cencora’s American Oncology Network acquisition
• Positive Sentiment: Argus raised its price target on COR from $340 to $380 and maintained a Buy rating, signaling confidence that the acquisition and Cencora’s broader growth prospects can support further appreciation. Argus forecast for Cencora
• Positive Sentiment: Baird increased its price target modestly from $373 to $375. In addition, 26 exchange-traded funds reportedly added to their Cencora holdings, providing a modest indication of continued institutional demand. Baird price target update
• Neutral Sentiment: The American Oncology Network transaction is strategically attractive, but investors will assess the $2.4 billion purchase price, financing, integration costs and the company’s ability to generate returns from the expanded physician platform. Becker’s report on the physician deal
• Negative Sentiment: UBS lowered its price target to $400, creating a counterpoint to the more bullish Argus and Baird revisions, although the new target remains above the recent trading level. UBS price target update

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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