UPDATE: UBS Investment Research Raises PT on Cardinal Health Following F4Q13 Conference Call

In a report published Friday, UBS Investment Research analyst Steven Valiquette reiterated a Buy rating on Cardinal Health (NYSE: CAH), and raised the price target from $53.00 to $58.00.

In the report, UBS Investment Research noted, “In our view, a key takeaway from the CAH F4Q13 conf call is that mgmt remains upbeat about the company's growth prospects in the near-term despite the loss of the WAG contract. Moreover, the $3.45-3.60 EPS guidance for FY14 may prove to be conservative as it does not include the redeployment of incremental cash flow of ~$500 mil expected this year related to the WAG brand inventory wind-down.”

Cardinal Health closed on Thursday at $51.09.