Cantor Fitzgerald Thinks CVS Health’s Stock is Going to Recover


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 closed yesterday at $63.37, close to its 52-week low of $60.14.

Halper said:

“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 Aetna adds value, as the addition of Aetna’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 100 analyst with an average return of 17.9% and a 62.8% 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 Moderate Buy, with a price target consensus of $90.71, representing a 43.1% upside. In a report issued on January 3, Merrill Lynch also maintained a Buy rating on the stock with a $92 price target.

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The company has a one-year high of $83.88 and a one-year low of $60.14. Currently, CVS Health has an average volume of 9.7M.

Based on the recent corporate insider activity of 52 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.

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