Evercore ISI analyst Elizabeth Anderson lowered the firm’s price target on CVS Health (CVS) to $62 from $65 and keeps an Outperform rating on the shares. The company’s Q2 report “showed what an arduous journey the HCB multiyear recovery is going to be,” but looking to FY25 the firm expects multiple tailwinds to drive double-digit EPS growth, including star benefit, Florida HMO contract flipping back to 4 stars, repricing and benefit redesign in FY25 bids, Medicaid new cycle repricing, the roll off of the Centene (CNC) contract loss, Cordavis growth and the incremental $500M cost savings, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVS:
- CVS Health says majority of businesses ‘performing well’
- CVS Earnings: CVS Health Earnings Shine but Outlook Dims
- Options Volatility and Implied Earnings Moves Today, August 07, 2024
- CVS HEALTH CORPORATION REPORTS SECOND QUARTER 2024 RESULTS AND REVISES FULL-YEAR 2024 GUIDANCE
- CVS Health cuts FY24 adjusted EPS view to $6.40-$6.65 from at least $7.00
Questions or Comments about the article? Write to editor@tipranks.com