CVS Health (CVS): Compelling As A Trade And An Investment, Expect 20% Upside - Guggenheim

November 9, 2016 6:15 AM EST
Get Alerts CVS Hot Sheet
Price: $81.98 --0%

Rating Summary:
    21 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 6
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Guggenheim analyst, John Heinbockel reiterated his Buy rating on shares of CVS Health (NYSE: CVS) and highlighted it as a good investment despite cutting his price target to $90 from $115. The analyst believes that business is good and this is just a difficult period. CVS’ flat 2017 pales in comparison to 2009-2010 when CVS was establishing its retail/PBM platform.

He sees the recent 12% sell-off as both a trading and investment opportunity as he expects new management to instill greater confidence at the upcoming 12/15 annual analyst meeting. The return of 10% EPS growth in 2018, based on guidance, could spur sufficient multiple expansion to support 20%-plus upside over the next twelve months.

For an analyst ratings summary and ratings history on CVS Health click here. For more ratings news on CVS Health click here.

Shares of CVS Health closed at $73.53 yesterday.

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