Cencora, Inc. (COR): A Bull Case Theory

We came across a bullish thesis on Cencora, Inc. (COR) on Substack by Hidden Market Gems. In this article, we will summarize the bulls’ thesis on COR. Cencora, Inc. (COR)’s share was trading at $273.89 as of April 9^th. COR’s trailing and forward P/E were 38.85 and 17.86 respectively according to Yahoo Finance.

Cencora (COR), formerly AmerisourceBergen, stands out in today’s volatile environment as a business built for resilience. As markets react to sticky inflation, high interest rates, and renewed trade war threats, the focus shifts to companies that can operate without disruption—those that don’t rely on fragile global supply chains, that generate local revenue, and that sell essentials. Cencora fits that profile exactly. It is a massive pharmaceutical distributor with operations that are mostly domestic. Its business is steady, with tight but reliable margins, and critically, it has no exposure to global trade dynamics. This makes it effectively immune to tariff shocks that are beginning to spook the broader market.

In a time when even strong companies are being dragged down with the index, and fear-driven selling is hitting quality names, Cencora offers something rare: stability. It doesn’t chase trends, it doesn’t rely on hype—it just delivers essential healthcare products, reliably and consistently. That simplicity becomes a major strength when markets are punishing complexity. While the current macro backdrop has made many investors hesitant to take new positions, this is exactly the kind of company that belongs on the watchlist. If trade tensions intensify and markets continue to rotate out of global and cyclical names, Cencora could emerge as a safe harbor.

Cencora doesn’t need the dust to settle—it just needs investors to notice what it already is: a tariff-proof, essential business with the kind of fundamentals that matter most when the narrative breaks and quality becomes scarce.

Cencora, Inc. (COR) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held COR at the end of the fourth quarter which was 45 in the previous quarter. While we acknowledge the risk and potential of COR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than COR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.