TD Cowen Downgrades CVS Health to Hold, Lowers Price Target to $59
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Charles Ryhee downgraded CVS Health (NYSE:CVS) from Buy to Hold and reduced the price target from $99 to $59, indicating a more cautious outlook on the stock.
May 07, 2024 | 9:59 am
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CVS Health was downgraded by TD Cowen from Buy to Hold, with a significant reduction in price target from $99 to $59.
The downgrade from Buy to Hold by a prominent analyst, coupled with a substantial decrease in the price target, suggests a bearish outlook on CVS Health's stock in the short term. This could lead to decreased investor confidence and a potential drop in stock price as the market adjusts to the new valuation.
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IMPORTANCE 90
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