FMP
Oct 21, 2024 6:00 PM - Rayan Ahmad
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On October 21, 2024, David MacDonald from Truist Financial set a price target of $76 for CVS Health (NYSE:CVS). At that time, the stock was priced at $58.20, suggesting a potential upside of about 30.6%. Despite CVS Health's preannouncement of a significant earnings miss, analysts remain optimistic about its long-term recovery, as highlighted by Benzinga.
Wall Street analysts play a crucial role in shaping investor decisions about stocks like CVS Health. The company currently holds an average brokerage recommendation (ABR) of 1.90 on a scale from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This rating suggests a positive outlook, falling between Strong Buy and Buy.
Out of 25 brokerage firms, 12 have given CVS a Strong Buy recommendation, while three have rated it as a Buy. These ratings collectively account for 48% and 12% of all recommendations, respectively. This indicates a generally bullish sentiment towards CVS Health among analysts, despite recent challenges.
The current price of CVS stock is $58.23, reflecting a decrease of approximately 2.42%. The stock has dropped by $1.45 today, with a trading range from a low of $57.87 to a high of $60.28. Over the past year, CVS has reached a high of $83.25 and a low of $52.77.
CVS Health's market capitalization stands at approximately $73.25 billion, and today's trading volume is 8,626,201 shares. Despite recent fluctuations, the company's long-term prospects remain a point of interest for investors and analysts alike.
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