Now is not the time for investors to ditch CVS Health , according to Wolf Research. The firm upgraded the stock to outperform from "peer perform," noting it has an "attractive" risk-reward ratio. Analyst Justin Lake raised his price target to $80, implying 16.4% upside from Monday's close of $68.75, which was the firm's previous price target.
" Shares of the pharmaceutical chain have pulled back more than 26% from the start of the year, plunging in mid-August after Blue Shield of California had said it will drop the company's pharmacy benefit management services. The stock has gained 5.5% so far this month, however, and rose 4.4% during Monday's trading session. Shares were up 0.8% premarket Tuesday.