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Citigroup's Michael Rollins raised their price target on Cencora (NYSE: COR) by 7.6% from $330 to $355 on 2025/05/08. The analyst maintained their Strong Buy rating on the stock.

Cencora reported its Q2 2025 earnings.

Hiking their price target, Rollins attributed the "beat-and-raise quarter largely to broad-based U.S. strength across Cencora's well-diversified specialty book of business."

Overall, the analyst said, Citigroup remains "impressed" with Cencora's U.S. results; results that "firmly establish" the stock as a "safe haven" amid outsized market volatility.

Earnings Report

For Q1 2025, Cencora reported:

• EPS of $4.42, which beat the Zacks Consensus Estimate of $4.08 and Q1 2024's $3.80.
• Revenue of $75.45B, which beat the Zacks Consensus Estimate by 0.85% and Q1 2024's $68.41M.

For FY 2025, management guided:

• EPS of $15.70 to $15.95, up from the prior $15.30 to $15.60.
• Operating income growth of 13.5% to 15.5%, up from the prior 11.5% to 13.5%.

President & CEO Robert P. Mauch commented: "Cencora’s second quarter results reflect the strength of our value proposition as a healthcare services provider and the important role we play in the supply chain, driven by our pharmaceutical distribution footprint and complementary end-to-end services and solutions.

“We continue to advance our core business and enhance our capabilities, with a focus on elevating our solutions in the markets we serve.”

“Cencora strives to enhance its leadership position in healthcare through our pharmaceutical-centric strategy, best-in-class team members, and customer-focused approach.

“We believe this leadership, coupled with our operational excellence and emphasis on productivity, drives our resilient financial performance now and will continue to drive it in the future.”