CVS stock rose in morning trade on December 10, 2021, after a slew of positive analyst actions.
CVS Health price target raised to $118 from $112 at Truist
Truist analyst David MacDonald raised the firm’s price target on CVS Health to $118 from $112 and kept a Buy rating on the shares. The company held an “upbeat” investor day that highlighted its unique collection of assets, disclosed a further push into healthcare delivery, and increased its balance sheetThe balance sheet is a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and equity. optionality; the analyst tells investors in a research note. MacDonald adds that he has a positive view of CVS’s evolving healthcare strategy. He expects the advancement of primary care physician delivery capabilities and other services to be augmented through strategic M & M&A.
CVS Health price target raised to $114 from $103 at Cowen
Cowen analyst Charles Ryhee raised the firm’s price target on CVS Health to $114 from $103 and kept an Outperform rating on the shares. The analyst remains positive on the stock as he’s encouraged by the visibility toward low-double-digit adjusted. EPS growth by 2024 primarily driven by the Foundational business with upside potential.
CVS Health price target raised to $119 from $107 at RBC Capital
RBC Capital analyst Frank Morgan raised the firm’s price target on CVS Health to $119 from $107 and kept an Outperform rating on the shares. At its Investor Day presentation, the company has introduced a “bold multi-year pivot” toward primary care delivery that leverages its existing infrastructure, the analyst tells investors in a research note, adding that as these ramp, CVS management sees a return to “sustainable” double-digit EPS growth in 2024 and beyond. Morgan further notes that following three beat-and-raise quarters, CVS heads into 2022 with good momentum and solid visibility into high single-digit EPS growth and sustainable cost reduction.
CVS Health price target raised to $120 from $107 at Credit Suisse
Credit Suisse analyst A.J. Rice raised the firm’s price target on CVS Health to $120 from $107 and kept an Outperform rating on the shares. CVS’s investor day was a solid cap to a strong year with an outlook offered for 2022 that may prove conservative, Rice tells investors in a research note.
CVS Health price target raised to $110 from $105 at Mizuho
Mizuho analyst Ann Hynes raised the firm’s price target on CVS Health to $110 from $105 and kept a Buy rating on the shares. The company raised its 2021 guidance, provided initial detailed guidance for 2022 and high-level directional guidance for 2023 and 2024, Hynes tells investors in a research note. Also, for the first time since the company announced the Aetna transaction, CVS raised its annual dividend by 10% and highlighted its plans to commence share repurchases in 2022, says the analyst. She believes CVS set forth achievable earnings growth expectations.
CVS Health Announces Quarterly Dividend
WOONSOCKET, R.I., December 10, 2021 /PRNewswire/ — CVS Health (NYSE: CVS) has announced that its board of directors has approved a quarterly dividend of fifty-five cents ($0.55) per share on the Common Stock of the Corporation. The dividend is payable on February 1, 2022, to holders of record on January 21, 2022.
CVS Stock Technical Analysis
Both the short-term and long-term trends are positive. This is a very positive sign. CVS is part of the Health Care Providers & Services industry. There are 132 other stocks in this industry. CVS outperforms 85% of them. There is a support zone ranging from 89.63 to 92.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Although CVS has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when CVS stock is a good entry.
