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Fly News Breaks for November 13, 2018
AET, CVS
Nov 13, 2018 | 08:07 EDT
Argus analyst Chris Graja raised his price target on CVS Health (CVS) to $100 and kept his Buy rating after its Q3 earnings beat, saying he remains "bullish on the management's ability to find innovative and profitable ways to reduce healthcare costs and deliver better care". The analyst also notes that he sees "significant upside for the shares if the company can close acquisition of Aetna (AET) and deliver on its financial targets". To that end, Graja cites the management's confidence expressed on the earnings call that the transaction can be closed prior to Thanksgiving and yield more than the initially estimated $750M in 2-year synergy benefits.
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