Truist lowered the firm’s price target on CVS Health to $66 from $90 but keeps a Buy rating on the shares. The analyst cites the company’s Q1 earnings miss and guidance cut driven by higher Medicare utilization, the analyst tells investors in a research note. The results are disappointing and corrective steps in Medicare Advantage will take time, but Truist remains positive on CVS Health’s collection of asset, the firm added.
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Read More on CVS:
- CVS Earnings: CVS Plunges as Q1 Results Disappoint, Lowers Outlook
- CVS Health plans to take ‘significant pricing actions’
- CVS Health targeting low double digit EPS growth in 2025, consensus $9.14
- CVS Health seeing medical cost pressures in Medicaid business
- CVS Health says Q1 burdened by utilization pressure in Medicare Advantage unit