Argus raised the firm’s price target on CVS Health (CVS) to $77 from $68 and keeps a Buy rating on the shares. Despite an uneven performance over the past few years, CVS remains well positioned to capitalize on favorable demand trends for healthcare from an aging U.S. population, and to help to bring down rising health care costs that have pressured consumers, providers, and government payers alike, the analyst tells investors in a research note. Argus is encouraged by the steps the new management team is taking to manage costs and better align its Health Benefits segment member mix towards higher margin customers, the firm adds.
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