CVS Health price target lowered to $88 from $120 at Mizuho

Mizuho analyst Ann Hynes lowered the firm’s price target on CVS Health to $88 from $120 and keeps a Buy rating on the shares. The analyst published a Q2 healthcare services earnings preview in conjunction with a 208 physician survey. The survey suggests a meaningful acceleration in demand for both inpatient and outpatient services and a notable improvement in labor trends, the analyst tells investors in a research note. As a result, Mizuho believes earnings visibility is high for providers including acute care, surgery centers and post-acute. The firm says managed care has less visibility. It adjusted price targets accordingly.