UBS analyst Kevin Caliendo said the risk/reward for CVS is still favorable as he believes his 2019 estimates are achievable. The analyst said he sees more upside levers than downside risks. He thinks consistent bottom line growth within the Aetna segment long-term is needed to justify multiple expansion from near trough levels as well as the bull case. Caliendo reiterated his Buy rating and lowered his price target to $74 from $75 on CVS shares.
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