Piper Sandler analyst Jessica Tassan raised the firm’s price target on CVS Health (CVS) to $101 from $99 and keeps an Overweight rating on the shares. The firm says CVS established guidance for a three year mid-teens adjusted EPS CAGR led by the ongoing margin recovery at HCB. This outlook very conservatively gets us to $9.41 of adjusted EPS in 2028 with buybacks offering upside and rendering $10.00 readily achievable within the forecast period. Guidance assumes buybacks are suspended in 2026 as CVS prioritizes deleveraging; and resume in 2027 and 2028 only to offset dilution.
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