JPMorgan analyst Lisa Gill lowered the firm’s price target on CVS Health to $86 from $101 and keeps an Overweight rating on the shares. The firm believes diversified managed care organizations and hospitals remain best positioned within its large cap coverage universe. Within managed care, a more defensive approach is still the best way to play the group over the near-term, the analyst tells investors in a research note. JPMorgan remains more cautious on Medicare Advantage given lack of visibility on 2024 cost trends and uncertainty around 2025 bids.
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Read More on CVS:
- CVS seeks partner for new Oak Street primary care sites, Bloomberg reports
- CVS Health seeking PE partner to fund Oak Street growth, Bloomberg says
- CVS Health: Core trends ‘very consistent’ with 2023
- CVS Health call volume above normal and directionally bullish
- CVS Health price target lowered to $80 from $100 at Argus
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