After significant labor actions at three of the biggest automakers in the U.S., employee walkouts are now coming at pharmacy majors CVS (NYSE:CVS), Walgreens (NASDAQ:WBA), and Rite Aid (OTC:RADCQ), according to Reuters.
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Reportedly, thousands of pharmacists plan a three-day walkout, beginning today, to push for better working conditions and increased headcount at these healthcare giants.
This marks the third employee action in about a month, following a two-day strike by pharmacists at CVS stores in Kansas City. The striking employees are seeking better pay and relief from overwork stemming from understaffing at stores.
Meanwhile, CVS has noted that its leaders are engaged in a “continuous two-way dialogue” with pharmacists. It remains to be seen how future developments will unfold at the pharmacies after recent labor actions in Hollywood and Las Vegas.
Separately, CVS is slated to report third-quarter numbers on November 1. Analysts expect the company to post an EPS of $2.13 on revenue of $88.29 billion for the quarter. In the comparable year-ago period, CVS’ EPS of $2.09 comfortably outpaced estimates by $0.09.
Is CVS a Buy, Sell, or a Hold?
Overall, the Street has a Strong Buy consensus rating on CVS. The average CVS price target of $89.53 implies a 33.4% potential upside in the stock. That’s after a nearly 27.6% slide in the share price over the past 52 weeks.
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