Shares of primary healthcare provider Cano Health (NYSE:CANO) are rallying today as the chatter of its potential acquisition gains momentum.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
According to a Bloomberg report, pharmacy operator CVS Health (NYSE:CVS) is conducting due diligence on Cano and exclusive talks are underway.
Nonetheless, a deal may or may not fructify, given that Humana has a right of first refusal if the primary care provider finds a suitor.
Is Cano Health a Good Investment?
CANO stock has skyrocketed 65.6% over the past month alone and the Street remains cautiously optimistic, with a Moderate Buy consensus rating based on two Buys and Holds each.
Further, the average Cano price target of $7.94 indicates 18.06% downside potential in the stock after the recent run-up.
CVS shares, in the meantime, are trending lower today on the acquisition talk, coupled with a downgrade of its Medicare advantage plan.
