J.P. Morgan Reiterates Overweight on Cardinal Health (CAH)

J.P. Morgan released its report on Cardinal Health CAH following CAH's investment day. In a note to clients, J.P. Morgan writes, "Yong Yu and Kinray acquisitions increase EPS growth trajectory. Management expects the Yong Yu acquisition to open opportunities beyond pharmaceuticals, such as medical devices, as multinational manufacturers look for a safe and easy entry to the Chinese market. Due to the company's experience and reputation, CAH is well positioned to be the trusted distribution partner for multinationals." J.P. Morgan reiterates its Overweight rating and $40 price target. CAH closed yesterday at $37.41.