CVS Health (CVS) PT Trimmed to $110 at Credit Suisse

October 3, 2016 7:57 AM EDT
Get Alerts CVS Hot Sheet
Price: $83.92 --0%

Rating Summary:
    21 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 44
Trade CVS Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Credit Suisse analyst Robert Willoughby trimmed his price target on CVS Health (NYSE: CVS) to $110.00 (from $115.00) but maintained an Outperform rating after news the US Department of Defense military health program, announced that as of December 1, CVS will no longer be a part of its pharmacy network, replaced by competitor Walgreens.

Willoughby commented, "CVS was on the winning side of a 2011 dispute between Express Scripts and Walgreens that saw Walgreens removed from TRICARE's pharmacy network. The news is consistent with recent efforts by Walgreens to align itself more with payors to gain more pharmacy market share, curbing CVS's opportunity."

The firm is lowering 2017 EPS estimate to $6.55 (from $6.60) on a weaker revenue outlook.

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 $88.99 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Credit Suisse, Robert Willoughby

Add Your Comment