CVS Health price target raised to $62 from $58 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on CVS Health to $62 from $58 and keeps a Neutral rating on the shares. Cantor remains cautious on CVS’s recovery timeline following the Q2 earnings report, as Medicare inpatient cost trends accelerated in July beyond expectations, margin recovery goals were reiterated at 100-200 basis points despite the cost trend increases post bids, and needing further clarification on CostVantage, the analyst tells investors in a research note.