Baird Raises Cencora (COR) Price Target to $375

By TradeTexts Research Desk Oct 22, 2026, 8:15 AM EDT

Key Points

Baird maintained an Outperform rating on Cencora, Inc. while bumping its price target to $375 from $373 on October 22, 2026.
Baird's $375 price target implies 10.15% upside from Cencora, Inc.'s ($COR) current $340.43 share price.
Cencora shares recently traded around $340.43, sitting below Baird's new target and roughly 7.4% under the broader analyst consensus mean.
The medical distributor posts trailing twelve-month revenue of $332.77 billion and is scheduled to report its next earnings on November 4, 2026.

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On October 22, 2026, Baird reiterated its Outperform rating on Cencora, Inc. (NYSE: COR) while adjusting its price target to $375 from $373.

COR Cencora, Inc.

$340.43 +1.06% year to date

Daily close · Oct 21, 2026

Analyst rating track record

Baird vs. the S&P 500

YTD return -1.94% hypothetical

All-time return -1.94% S&P 500 +2.39%

vs. S&P 500 -4.33% behind the index

Hypothetical returns from Baird's disclosed trades, not real profit or advice. How we model this.

Baird's Call on Cencora

In its research note published on October 22, 2026, Baird maintained its positive stance on the medical distributor. The firm raised its target to $375 from a prior level of $373. Wall Street firms maintain varying perspectives on the stock, with other recent updates including Argus Research maintaining a Buy rating and raising its target to $380 on October 20, 2026, and UBS keeping a Buy rating with a target of $400 on October 16, 2026. Leerink Partners also maintained an Outperform rating with a $388 target on October 7, 2026, while RBC Capital held a Sector Perform rating with a $330 target on September 8, 2026. Cencora carries a consensus recommendation of buy with a mean price target of $367.67 across twelve analyst opinions.

Other Institutional Activity in Cencora

Boston Partners grew its holdings by 385,970 shares, ending with 4,868,782 shares worth about $1.66 billion in its report for the period ending June 30, 2026.

Cencora, Inc. Stock Up 0.1%

Cencora recently traded around $340.43 as of October 22, 2026, putting the price about equal to its closing level of $340.43 on October 21, 2026. The stock sits above its 50-day moving average of $320.64 and its 200-day moving average of $317.50. Shares remain down about 9.8% from their 52-week high of $377.54 while trading 39.1% above their 52-week low of $244.82. At the recent price of $340.43, the stock trades roughly 7.4% below the analyst mean price target of $367.67.

12-month forecast

$COR price target

Cencora, Inc. daily closes and this analyst's $375 target. Not advice.

Recent Earnings

Cencora reported trailing twelve-month revenue of $332.77 billion and diluted earnings per share of $13.47. The company generated a return on equity of 96.9% and a net profit margin of 0.8%. Its next earnings report is scheduled for November 4, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

F 29/100

Reported May 6, 2026

Forward outlook
4 target cuts vs 0 raises.
EPS & revenue
EPS missed estimates by 2.3%. Revenue missed estimates by 4.3%.
Profit surprise
EBITDA beat by 9 percent. Operating income met by 2 percent.
Pre-earnings setup
Bar was high, analysts already very bullish.
Analyst signal
4 target cuts.
Earnings quality
Gross margin up 0.8 points. Positive free cash flow.

Earnings Call Summary

The company delivered a strong first quarter with 12 percent operating income growth and 9 percent earnings per share growth, driven by continued strength in specialty pharmaceuticals, particularly GLP-1 products which grew 11 percent. Management highlighted that US healthcare solutions performed at the high end of long-term guidance even excluding recent acquisitions like RCA and the newly closed OneOncology deal. The completion of the OneOncology acquisition marks a major strategic expansion of Cencora's managed service organization platform, which management views as a natural extension of its specialty pharmaceutical leadership.

Guidance Cencora raised full year revenue growth guidance to 7 to 9 percent from 5 to 7 percent, and operating income growth to 11.5 to 13.5 percent from 8 to 10 percent. The company closed its OneOncology acquisition and expects the MSO platform to drive meaningful operating income expansion this year and beyond.

Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.

Dividend

Cencora pays an annual dividend rate of $2.40 per share, yielding 0.71% with a dividend payout ratio of 17.4%.

Insider Buying and Selling at Cencora, Inc.

Insiders executed four transactions prior to the analyst update. On August 24, 2026, officer Elizabeth S Campbell sold 11,300 shares at an average price of $324.12 for a total value of $3,662,663. Later, on September 1, 2026, officer Lazarus Krikorian sold 985 shares at $325.97 totaling $321,080. Director Lon R Greenberg then sold 1,280 shares on September 16, 2026, at $321.30 for $411,264, and Lazarus Krikorian sold another 986 shares on October 1, 2026, at $303.18 for $298,935.

About Cencora

Headquartered in Conshohocken, Pennsylvania, and employing 47,000 people, Cencora operates as a primary sourcing and distribution partner for pharmaceutical products across the United States and globally. The medical distributor plays a central role in connecting drug manufacturers with healthcare providers, making its financial health and distribution volume closely watched indicators across the healthcare sector.

Bottom Line

Investors will look to Cencora's upcoming earnings release on November 4, 2026, to gauge whether financial results support Baird's new $375 price target. Monitoring broader institutional filings and subsequent analyst revisions will also help clarify market sentiment.