Shares of Cano Health (NYSE:CANO) cratered by roughly 40% in today’s trading session. This can be attributed to CVS Health’s (NYSE:CVS) decision to not acquire Cano Health.
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It seems likely that CVS will be shifting its focus to buybacks instead of acquisitions, which makes sense when considering that its stock is down 12% year-to-date with a price-to-earnings ratio of just over 14 times.
Is Cano Health a Good Stock to Buy?
Cano Health has a Moderate Buy consensus rating based on two Buys and two Holds assigned in the past three months. The average Cano Health stock price target of $7.94 implies 57.1% upside potential.
