Deutsche Bank said CVS is ready for a comeback after a tough 2024. The bank upgraded the pharmacy stock to buy from hold and reiterated its $66 per share target. Deutsche Bank's forecast suggests a rise of about 12% from Monday's close. Analyst George Hill said CVS' earnings and multiples are likely near rock bottom, highlighting the company's efforts to accelerate growth, including recent management changes. CVS YTD Mountain CVS Stock. “Perhaps most importantly, we conducted a detailed sub-segment analysis of our MCO. [managed care organizations] “We believe that a profit recovery in this segment is achievable and will exceed market expectations,” Hill said. The company is coming off mixed third-quarter results as CVS did not provide future guidance. The November results were the first financial results report for newly appointed CEO David. Mr. Joyner — replaced Karen Lynch in October. [pharmacy benefit managers] services, a measured decline in pharmacies, and a compelling risk-reward theory,” the analyst added. CVS stock has fallen more than 25% in 2024.
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