All You Need to Know About Cencora (COR) Rating Upgrade to Buy

Core Viewpoint - Cencora (COR) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook based on rising earnings estimates [1][3]. Earnings Estimates and Stock Price Impact - Changes in earnings estimates are a significant factor influencing stock prices, with a strong correlation between earnings revisions and near-term stock movements [4][6]. - Institutional investors often adjust their valuations based on earnings estimates, leading to stock price movements as they buy or sell shares [4]. Cencora's Earnings Outlook - For the fiscal year ending September 2024, Cencora is expected to earn $13.49 per share, reflecting a 12.5% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Cencora has increased by 0.9%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - Cencora's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].