Cencora saw its IBD SmartSelect Composite Rating jump to 96 Monday, up from 94 the day before.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher rating in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Cencora is currently forming a flat base, with a 262.25 buy point. Look for the stock to break out in volume at least 40% higher than normal. But note that it's a later-stage base, and such bases are more prone to failure.
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The stock earns a 92 EPS Rating, meaning its recent quarterly and annual earnings growth tops 92% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 14% earnings gain for Q1. Top line growth fell to 13%, down from 15% in the prior quarter.
Cencora earns the No. 1 rank among its peers in the Medical-Wholesale Drugs industry group. McKesson and Cardinal Health are also among the group's highest-rated stocks.
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