CVS Health (CVS): Cutting Estimates On Pricing Concerns - Leerink
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- BTIG Cuts PT on Workday (WDAY) to $88 Following Q3 Results; Affirms at 'Buy'
- Shopify (SHOP): CFO Meetings Indicate Strong Growth Ahead - Wedbush
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Hot List
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!