On 3Q Earnings Call, CVS Lays Out Path for Aetna Rescue
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Nov 08, 2024
CVS Health Corp.’s third-quarter 2024 earnings call — which it held on the same morning when many Americans woke up to learn Donald Trump had won the presidency — focused largely on how the firm’s new management aims to turn around its struggling health care benefits business. In response, Wall Street analysts expressed a range of reactions, from lukewarm optimism to outright skepticism.
“We believe CVS is overbought today,” Cantor Fitzgerald’s Sarah James wrote in a Nov. 6 research note, observing that CVS’s stock closed that day up 11.3%. “The response to the 2024 presidential election is too strong against disappointing 3Q24 fundamentals and 2024/2025 outlook.”
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