Shares of the San Francisco-based company that's engaged in delivering pharmaceuticals, medical supplies and healthcare information technology were up about 2% in early morning trading.
JPMorgan analyst Lisa Gill also raised her price target on the shares to $189 from $167.
The analyst believes additional value should be unlocked from the Change transaction and that the valuation discount versus peers is unwarranted.
Last week McKesson reported fourth-quarter fiscal 2017 adjusted earnings that exceeded analysts' expectations.
Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.