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WBA

Walgreens Boots Alliance

$79.82

-2.11 (-2.58%)

, HUM

Humana

$307.50

-2.87 (-0.92%)

08:00
11/21/18
11/21
08:00
11/21/18
08:00

Jefferies not sure how Humana would benefit from Walgreens stake

The stake talks between Walgreens Boots Alliance (WBA) and Humana (HUM), as reported last night by the Wall Street Journal, follows in the pattern of the Aetna (AET)/CVS Health (CVS) deal, but it is not fully clear how Humana would benefit from an investment in Walgreens, Jefferies analyst Brian Tanquilut tells investors in a research note. For Walgreens, a partnership approach matches the company's strategy and would help address questions about the long-term viability of the retail pharmacy model, adds the analyst. He believes partnering with Humana helps Walgreens drive market share. Further, a deal could also help strengthen Humana's brand and improve its ability to market directly to prospective insurance lives, especially as healthcare increasingly becomes consumer-focused, Tanquilut says.

WBA

Walgreens Boots Alliance

$79.82

-2.11 (-2.58%)

HUM

Humana

$307.50

-2.87 (-0.92%)

AET

Acquired by CVS

$204.15

-3.535 (-1.70%)

CVS

CVS Health

$75.52

-3.02 (-3.85%)

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WBA Walgreens Boots Alliance
$79.82

-2.11 (-2.58%)

10/08/18
RBCM
10/08/18
NO CHANGE
Target $82
RBCM
Outperform
Walgreens Boots Alliance price target raised to $82 from $68 at RBC Capital
RBC Capital analyst George Hill raised his price target on Walgreens Boots Alliance to $82 and kept his Outperform rating ahead of its Q4 results and FY19 guidance this week, saying its outlook should come in better than expected thanks to the company's share repurchases. The analyst warns that he still has some concerns about Walgreens Boots' pricing in the U.S. after its commentary that followed the Q3 results but still expects the Medicare Part D preferred pharmacy network business to recover next year from the headwinds experienced in 2018. Hill also expects investors to focus on the company's organic script growth expectation as well as its "partnership strategy, pharmacy reimbursement trends, and drug pricing or regulatory changes".
11/19/18
JEFF
11/19/18
NO CHANGE
JEFF
Jefferies uncovers signs of Amazon expanding prescription drug presence
Jefferies analyst Brian Tanquilut says his proprietary checks of Amazon.com's (AMZN) moves in the pharmacy space indicate that the online retailer has finally made moves to expand PillPack. However, the initial expansion phase appears focused on offering pharmacy services to Amazon employees in Washington. In his most recent webscrape, Tanquilut came across a new prescription license in WA, two pending Rx licenses in New Mexico and Indiana, and pharmacy technician and packaging/shipping job postings all linked to PillPack's Phoenix facility. These new developments signal the beginning of Amazon's prescription expansion via PillPack, Tanquilut tells investors in a research note. If Amazon were to rollout a more extensive PillPack offering to its own employee base, Rite Aid (RAD) could be most exposed to potential script transfers with Walgreens Boots Alliance (WBA) the least exposed among the public drugstores, says the analyst. He still believes that the impact of Amazon's pharmacy entry will take a while to materialize for drug stores CVS Health (CVS) and Walgreens.
10/12/18
RHCO
10/12/18
NO CHANGE
Target $75
RHCO
Hold
Walgreens Boots Alliance price target raised to $75 from $66 at SunTrust
SunTrust analyst David MacDonald raised his price target on Walgreens Boots Alliance (WBA) to $75 after its Q4 earnings beat and FY19 guidance yesterday. The analyst says the results were marked by "solid U.S. pharmacy performance" in spite of the ongoing reimbursement and generic headwinds. MacDonald also keeps his Hold rating, adding that while the company's cash flow remains "robust" and the integration of Rite Aid (RAD) is still on track, he is concerned about the challenging environment and ongoing degradation in gross margins.
10/12/18
LOOP
10/12/18
NO CHANGE
Target $82
LOOP
Buy
Walgreens Boots Alliance price target raised to $82 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Walgreens Boots Alliance to $82 from $80 after its Q4 earnings beat and "constructive" outlook for FY19. The analyst notes however that earnings quality was "mixed", with upside coming from lower-than-modeled share count and tax rate along with curtailment of some of the employee benefits. Wolf also keeps his Buy, noting that the management's FY19 guidance was set "conservatively" with some optimism of normalizing gross margins.
HUM Humana
$307.50

-2.87 (-0.92%)

11/08/18
JEFF
11/08/18
NO CHANGE
Target $410
JEFF
Buy
Humana price target raised to $410 from $388 at Jefferies
Jefferies analyst David Windley raised his price target for Humana to $410 saying he's encouraged by the company's "solid" Q3 results. The analyst keeps a Buy rating on the shares.
11/08/18
FBCO
11/08/18
NO CHANGE
Target $390
FBCO
Outperform
Humana price target raised to $390 from $370 at Credit Suisse
Credit Suisse analyst A.J. Rice raised his price target for Humana to $390 from $370 following quarterly results. The analyst reiterates an Outperform rating on the shares.
10/11/18
SPHN
10/11/18
NO CHANGE
SPHN
Stephens says home health final rule looking like draft would weigh on providers
Stephens analyst Dana Hambly said he expects the final rule for home health reimbursement to be released by CMS in the first week of November. He is concerned that if the final rule looks similar to the draft rule, particularly regarding behavioral assumptions, it would weigh on home health stocks. For-profit, urban providers with higher percentages of therapy visits are estimated to take the largest cuts under a Patient Driven Groupings Model for reimbursement, said Hambly, who sees the impact being largest for Brookdale Senior Living (BKD) and Humana's (HUM) Kindred at Home. Others that may be impacted include Amedisys (AMED), Encompass Health (EHC), Ensign Group (ENSG) and LHC Group (LHCG).
11/08/18
OPCO
11/08/18
NO CHANGE
Target $373
OPCO
Outperform
Humana price target raised to $373 from $350 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn raised his price target for Humana to $373 from $350 after the company produced another quarter of "strong" results and provided a bullish outlook into 2019. Given the company is most leveraged to the high-growth Medicare Advantage business, the analyst remains bullish on the stock for long-term investors. He reiterates an Outperform rating on the shares.
AET Acquired by CVS
$204.15

-3.535 (-1.70%)

11/07/18
MSCO
11/07/18
NO CHANGE
Target $100
MSCO
Overweight
CVS Health price target raised to $100 from $80 at Morgan Stanley
Morgan Stanley analyst Ricky Goldwasser said he believes the combination of CVS (CVS) and Aetna (AET) has the potential to transform the delivery of care as he introduced pro forma estimates for the combined company. He noted the wide range of consensus estimates, with EPS ranges from $6.63-$8.21 for 2019 and $7.45-$9.05 for 2020, while telling investors that his own pro-forma EPS forecasts are for $7.57 in 2019 and $8.30 in 2020. In setting up a valuation framework for the combined company, Goldwasser raised his price target on CVS shares to $100 from $80 and keeps an Overweight rating on the stock.
10/31/18
PIPR
10/31/18
DOWNGRADE
Target $206
PIPR
Neutral
Piper downgrades Aetna to Neutral on confidence of CVS deal closing
Piper Jaffray analyst Sarah James last night downgraded Aetna (AET) to Neutral from Overweight and lowered her price target for the shares to $206 from $212. The analyst is favorable on the fundamentals of Aetna's business and is confident the CVS Health (CVS) takeover will close given the recent Department of Justice approval. She believes Aetna shares will be range bound near the $206 per share takeout price.
11/08/18
LEER
11/08/18
NO CHANGE
Target $95
LEER
Outperform
CVS Health price target raised to $95 from $85 at Leerink
Leerink analyst David Larsen raised his price target for CVS Health (CVS) to $95 from $85 following quarterly results. The analyst is encouraged that the deal with Aetna (AET) appears to be ready to close in the near-term, which he believes will be a positive catalyst for the stock. Larsen also likes how the PBM selling season seems to be progressing well, better than he had expected, and also likes how CVS seems to be re-focusing on the Retail "Streamline" efforts, which will hopefully result in net savings in 2019. The analyst reiterates an Outperform rating on CVS shares.
11/13/18
ARGS
11/13/18
NO CHANGE
Target $100
ARGS
Buy
CVS Health price target raised to $100 from $88 at Argus
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.
CVS CVS Health
$75.52

-3.02 (-3.85%)

11/09/18
LOOP
11/09/18
NO CHANGE
Target $80
LOOP
Hold
CVS Health price target raised to $80 from $70 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on CVS Health shares to $80 from $70, citing improved sales results from CVS's core business units in Q3 and the company's maintenance of 2018 guidance. He also notes that the sector rotation into more defensive stocks has boosted the valuations of most of the other large-cap names in the group. However, Wolf keeps a Hold rating on CVS shares, noting that while its Q3 adjusted EPS of $1.73 topped consensus, it missed his own $1.78 forecast.

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GPRO

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