On September 1, CVS Health rose 3.07% in regular trading, trading at $96.885/share, with turnover of $70.30 million.
On the news front, multiple Wall Street investment banks recently raised their price targets on CVS Health in quick succession. Argus lifted its target to $114 from $104, JPMorgan to $118 from $111, UBS to $126 from $122, Goldman Sachs to $116 from $104, and Wells Fargo to $123 from $103, all maintaining buy or overweight ratings. The average analyst target price stands at approximately $114.38.
The wave of upgrades follows the company's Q2 earnings report, which significantly exceeded expectations. Adjusted EPS came in at $2.58, far surpassing the consensus estimate of $1.85, while revenue reached $106.1 billion versus the $100.03 billion expected. Management raised full-year adjusted EPS guidance to $7.90-$8.10, well above the prior range of $7.30-$7.50. Although a forward warning on Caremark membership losses in 2027 initially pressured shares by roughly 10% on earnings day, the concentrated target price increases indicate analysts remain confident in the company's medium-to-long-term fundamentals, supporting a continued share price recovery.
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