CVS Health upgraded to Overweight at Cantor on increased confidence after Q4

As previously reported, Cantor Fitzgerald upgraded CVS Health (CVS) to Overweight from Neutral with a price target of $71, up from $62, citing increased confidence in a successful turnaround and that CVS will be able to return to normal Medicare Advantage margins in FY27. From a sum-of-the-parts perspective, the firm believes the current implied multiple on the Aetna business “materially undervalues the asset,” the analyst tells investors.