Cantor Fitzgerald Starts CVS Health (CVS) at Overweight

Cantor Fitzgerald analyst Steven Halper initiates coverage on CVS Health (NYSE: CVS) with a Overweight rating and a price target of $96.00.

Halper commented, "CVS is an integrated pharmacy care company with an industry-leading PBM (Caremark) and nationally scaled retail/LTC business. CVS uses a diverse suite of capabilities to innovate across the entire healthcare landscape. The company's acquisition of Aetna (AET, Neutral) underscores this focus. We believe the combination will enable a new model of care, leveraging both the CVS pharmacy assets and AET medical/clinical expertise. The merger should generate significant savings while optimizing consumer engagement. Our DCF-based PT is $96, or about 28% above current levels. While some investor concern regarding future growth still exists, our DCF model assumptions are very conservative. The shares are compelling at current levels despite the uncertainties."

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 $75.18 yesterday.

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