In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on CVS Health (CVS), with a price target of $96. The company’s shares opened today at $74.36.
Halper commented:
“We rate shares of CVS Health Corp. (CVS) Overweight. The company has one the largest PBMs in the U.S. and a nationally recognized retail brand. We believe the acquisition of AET adds value, as the addition of AET’s clinical expertise and capabilities should allow the combined company to transform MinuteClinic into a “healthcare hub” and reduce cost of care by shifting patients to lower cost CVS-owned settings. We believe the risk/reward tradeoff is compelling at current levels. Valuation Summary Our price target is $96, which is DCF-based.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 19.5% and a 67.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
CVS Health has an analyst consensus of Strong Buy, with a price target consensus of $94.79, which is a 27.5% upside from current levels. In a report issued on November 28, J.P. Morgan also reiterated a Buy rating on the stock with a $106 price target.
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CVS Health’s market cap is currently $75.92B and has a P/E ratio of 24.51. The company has a Price to Book ratio of 2.07.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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CVS Health Corp. engages in the provision of health care services. It operates trough the following segments: Pharmacy Services, Retail or Long Term Care, and Corporate. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.
