TD Cowen keeps a Buy rating and $80 price target on CVS. The firm says the DOJ complaint relating to opioid prescriptions is incremental to the 2022 settlement with state and local governments for $5B over 10 years. The multi-year impasse between the DOJ and CVS suggests CVS is confident in its case, and while it is unclear what a final settlement figure may be, it may be a fraction of the $5B 10-year settlement that CVS came to with state and local governments in 2022, the analyst tells investors in a research note.
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