BofA analyst Allen Lutz raised the firm's price target on Cencora (COR) to $285 from $280 and keeps a Neutral rating on the shares. At the firm's Healthcare conference last month, McKesson (MCK) and Cencora made comments that they are, or could, contemplate biosimilar co-manufacturing in the future, notes the analyst, who believes management commentary indicates a clear willingness to explore this opportunity over time. The firm slightly raised Cencora's target multiple to reflect some modest optionality around Eylea, somewhat offset by its customer Cigna's (CI) growing biosimilar ambitions, the analyst noted.
