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Fly News Breaks for November 28, 2018
CVS, AET
Nov 28, 2018 | 12:25 EDT
After CVS Health (CVS) earlier today announced the closing of its acquisition of Aetna (AET), Loop Capital analyst Andrew Wolf said he is maintaining his Hold rating on CVS shares, citing the fact that the capital return profile of the combined entity is materially lower, despite synergies, due to the relatively high valuation for Aetna. Wolf also said that while the deal is accretive to earnings it creates "a highly financially leveraged enterprise." Wolf has an $80 price target on CVS shares.
News For CVS;AET From the Last 2 Days
