BofA Remains Bullish on McKesson (MCK) Following Strong Third Quarter Performance

McKesson Corporation (NYSE:MCK) is one of the best performing S&P 500 stocks in the last five years.

On February 5, 2026, BofA reaffirmed its ‘Buy’ rating on McKesson Corporation (NYSE:MCK) and increased its price target from $950 to $970. Describing the third quarter as strong, the firm pointed to revenue and EPS, both of which exceeded street expectations. Citing the North American Pharmaceutical segment’s solid performance and the Oncology & Multispecialty segment’s ongoing strength, BofA raised its FY26 and FY27 EPS projections.

The analyst update followed McKesson Corporation (NYSE:MCK)’s February 4, 2026, Q3 earnings and outlook update, in which the company raised its fiscal 2026 adjusted EPS forecast from a prior range of $38.35-$38.85 to $38.80-$39.20.

Additionally, McKesson Corporation (NYSE:MCK) reported third-quarter revenue of $106.16 billion, exceeding the $105.86 billion forecast, and adjusted EPS of $9.34, above the $9.22 forecast. The demand for specialty drugs and strong prescription volumes helped the U.S. pharmaceutical segment’s sales to rise 9% to $88.30 billion.

McKesson Corporation (NYSE:MCK), a healthcare services company, offers pharmaceutical distribution, specialty drug solutions, prescription technology services, and medical-surgical supplies across the United States and international markets.

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