Despite a 1.9% dip after its earnings report, Cencora(COR) remains a promising investment. Walgreens Boots Alliance sold their shares of Cencora leading to $400 million in proceeds. Despite heavy sales by insiders, such as Executive Vice President Gina Clark and CEO Steven Collis, experts suggest that Cencora manages its debt responsibly and it offers significant value as a growth stock. Continuing to perform well, it hit a 52-week high, topped estimates for Q2 earnings, and raised its 2024 view.
However, Cencora's Q2 revenue missed its estimates. It suffered from a cyberattack which compromised Americans' health information. As a result, the stock underperformed compared to its competitors. In spite of these challenges, Cencora's intrinsic value is 53% above its share price. It also outperformed competitors on a strong trading day, proving its resilience. The note sale of $500 million indicates strong potential future growth.
Cencora's earnings and performance have attracted investors and brokerages, resulting in a moderate buy rating and a $233.90 consensus price target. The company also took significant steps, including a CEO change and a company rebrand, further solidifying its position in the market.
Cencora COR News Analytics from Fri, 04 Sep 2020 07:00:00 GMT to Mon, 10 Jun 2024 13:40:10 GMT - Rating 5 - Innovation 7 - Information 5 - Rumor -3
