Deutsche Bank analysts provided their outlook on McKesson Corporation (NYSE:MCK) ahead of the company’s upcoming Q4/23 earnings release, scheduled on May 8.
The company should provide initial 2024 guidance. The current Street estimates stand at $26.22 for 2024 EPS, which represents very modest low-single-digit EPS growth compared with the company’s 2023 EPS guidance range of $25.75-$26.15.
While this growth would be below the company’s long-term EPS growth target in the range of 12%-14% EPS growth, the company has several large contributors to EPS in 2023 that when backed out, sets a lower core starting base for 2024 guide to be within long-term growth trend.
The analysts reiterated their Buy rating and $430 price target on the stock.