MCK Price Prediction Next Week
Based on the provided data and current market status (Sunday, market closed), here's the analysis for MCK's price prediction for next week:
Technical Analysis
The stock closed at $591.58 on Friday with a decline of 0.94%. Key technical levels show:
- Support levels: $586.53 (Friday's low)
- Resistance levels: $598.06 (Friday's high)
- RSI at 53.80 indicates neutral momentum
- MACD at 2.45 shows positive momentum
Price Targets Based on Fibonacci Levels
- R1: $596.37 (+0.81%)
- R2: $602.44 (+1.84%)
- R3: $612.27 (+3.50%)
- S1: $576.71 (-2.51%)
- S2: $570.64 (-3.54%)
- S3: $560.81 (-5.20%)
News Sentiment Analysis Recent positive catalysts:
- $10M government contract payment received for pharmaceutical supplies
- Evercore ISI maintained Buy rating with $650 price target
- Strong analyst consensus with average price target of $671, indicating 15% upside potential
Price Prediction for Next Week Based on technical indicators and news sentiment:
Most Likely Scenario (60% probability):
- Price range: $590-605
- Target: $598 (+1.1%)
- Key drivers: Positive analyst ratings and government contracts supporting upward momentum
Bullish Scenario (25% probability):
- Price range: $605-615
- Target: $612 (+3.5%)
- Catalyst: Break above $598 resistance could trigger momentum buying
Bearish Scenario (15% probability):
- Price range: $570-585
- Target: $576 (-2.6%)
- Risk: Market volatility or profit-taking after recent gains
The analysis suggests MCK is likely to trade higher next week, with primary support at $586 and resistance at $598. The stock shows positive momentum with strong institutional backing and favorable analyst ratings. The most probable scenario points to a modest upward movement, targeting the $598 level.
MCK Similar Chart Price Prediction
The price of MCK is predicted to go up -11.56%, based on the high correlation periods with HOFT. The similarity of these two price pattern on the periods is 90.68%.
MCK
HOFT
Down: -11.56%Similarity: 90.68%
MCK Revenue Forecast
MCK EPS Forecast
MCK FAQs
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MCK VS S&P500
McKesson distributes pharmaceutical products to nearly one third of the industry, leading to substantial negotiation leverage with generic drug manufacturers.
Direct-to-store model (delivering drugs directly to each retailer's stores) of distributors are increasingly becoming more popular among retailers (represents 93% of sales in 2017, up from 74% in 2007), solidifying McKesson's role in the supply chain.
Technology advancements continue to improve McKesson's performance and present new opportunities for wholesalers.
MCK Analyst's Forecast
Daniel Grosslight
Citigroup
Strong Buy
Price Target
$713 → $677
Upside
+16.38%
Citi lowered the firm's price target on McKesson to $677 from $713 and keeps a Buy rating on the shares as part of a 2025 outcook for the health technology and distribution group. The firm says that while 2024 was another difficult year for health tech stocks, rather than being driven by deteriorating fundamentals, much of the selloff was due to continued multiple compression, which signals "we have likely reached a valuation floor." Looking ahead to 2025, Citi is "cautiously optimistic" on the health tech space, saying there seems to be a bit of a post-election risk bid, acquisition activity has accelerated, and expectations have been sufficiently reset. Citi names Health Catalyst (HCAT) its top health tech pick and Cencora (COR) its top distribution pick.
Erin Wright
Morgan Stanley
Buy
Price Target
$612 → $642
Upside
+14.08%
Stephen Baxter
Wells Fargo
Hold
Price Target
$535 → $641
Upside
+11.24%