CVS - Is CVS Health Stock a Millionaire Maker?
2024-06-14 05:15:00 ET
If you want to maximize your odds for a good return in the stock market, it's important to look for deep value buys. These are stocks that may be struggling right now but that have a lot of upside in the long run. And because they're struggling, you can get them at a discount, potentially setting yourself up for better returns down the road.
CVS Health (NYSE: CVS) is a stock that potentially ticks off those checkboxes. It's down 24% this year and has been a brutal recent buy, especially as the stock market reached new heights and other stocks generated massive returns. But could CVS Health, with a much more modest valuation than it had at the beginning of the year, be a millionaire-making investment in the long run?
A big reason I'm bullish on the company's future is that the need for healthcare is only going to rise. As the number of seniors grows, so too will the number of diseases which are going to require ongoing care, from cardiovascular diseases to hypertension to diabetes. Demand will go up for healthcare services.
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Is CVS Health Stock a Millionaire Maker?