After CVS Health (CVS) announced that it has added four new board members following discussions with Glenview Capital, Evercore ISI says the board additions will “bulk up the number of healthcare and technology members” of CVS’s board, which “should add comfort to investors regarding the recovery pathway for HCB as well as the longer-term strategic outlook.” Following the board news as well as CVS’s recent earnings results and revised estimates, the firm says its refreshed sum-of-the-parts analysis “points to CVS being undervalued” and Evercore maintains an Outperform rating and $75 price target on the shares.
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