Citi analyst Ralph Giacobbe lowered his price target for CVS Health to $68 from $94 but keeps a Buy rating on the shares. The analyst says that while headwinds within the company’s retail are significant, he’s most surprised with the sizable drop implied within the healthcare benefits segment. However, he sees “a bridge” that gives credence to mid-single digit underlying growth. While admitting it is difficult to gain visibility on 2020, Giacobbe sees a “reasonable path” to $7.20 in earnings per share for 2020.
https://thefly.com/landingPageNews.php?id=2875015
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