CVS Health (CVS): Cutting Estimates On Pricing Concerns - Leerink
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Leerink Partners analyst, David Larsen, reiterated his Outperform rating on shares of CVS Health (NYSE: CVS) but cut his price target to $105.00 from $110.00 on pricing concerns. The analyst recently spoke with a MEDACorp specialist who has decades of experience with PBM and Managed Care contracting, believes that pricing has slowed materially over the past 9 months.
As a result he reduced 2H:16 and 2017 revenue and EPS estimates for CVS Health. This information makes him incrementally more cautious on the PBMs, Distributors and Retailers,
Shares of CVS Health closed at $89.55 yesterday.
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