CVS Health price target raised to $107 from $90 at RBC Capital

RBC Capital raised the firm’s price target on CVS Health (CVS) to $107 from $90 and keeps an Outperform rating on the shares. The company reported a strong Q1 beat and early guidance raise, driven primarily by Health Benefits strength as medical costs came in below expectations, the analyst tells investors in a research note. RBC adds the setup makes the firm increasingly confident in CVS’s ability to achieve its 3% Medicare Advantage target margin in 2028.