Cardinal Health (CAH) is likely seeing a "more durable favorable" environment as it has raised its fiscal 2025 non-GAAP earnings guidance with "only" a few weeks remaining in the fiscal year, Morgan Stanley said in a Friday note.
The company also issued a fiscal 2026 non-GAAP EPS outlook range of $9.10 to $9.30, a 13% growth at the midpoint, the note added.
Cardinal Health is "exhibiting strength in Pharma as the Specialty business scales, while seizing opportunity in its Other segment and managing tariff headwinds in GMPD," the note said.
The company is also pre-storing inventory, deploying artificial intelligence, and collaborating with the US government to manage tariffs, Morgan Stanley said, adding that Cardinal is also raising US production capacity, increasing supplier networks, optimizing compliance processes, and presumably price increases.
Morgan Stanley raised Cardinal Health's price target to $181 from $166 and maintained an overweight rating on the stock.
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