I am bullish on CVS Health Corporation ( NYSE:CVS ). The drop in CVS stock price this year (-13.5%) leads me to assume that the price drop is a potential opportunity to invest and profit in the following year.
CVS Stock Performance
CVS stock is up 8.35% in the last year and +24.4% in the last five years. The share price is currently down roughly 11% to $90. The decline began in mid-August when the high reached more than $108 per share. CVS stock Beta is 0.85, which is down from 1.13 one year ago. Low volatility is good news for retail value investors who dislike uncertainty.
I anticipate that the share price will continue to rise, with an average share price objective of more than $115 over the next 12 months. There will be a few missteps and falls. The present drop has been linked primarily to a probable Cano Health ( NYSE:CANO ) acquisition and other difficulties.
Throughout much of 2019, the share price fell into the low $50s. It came after the $69 billion acquisition of CVS and Aetna . Aetna was the third-largest provider of health insurance and services. I believe CVS stock will appreciate following the closing and absorption of CANO.
In my opinion, CVS will continue to experience solid momentum, better profitability, and revisions in the future, recession or no recession; shares are marginally cheap. CVS stock has...
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