CVS Health price target raised to $92 from $84 at Truist

Truist analyst David MacDonald raised the firm’s price target on CVS Health (CVS) to $92 from $84 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results in Healthcare Service. The firm is “broadly bullish” on the industry as it expects ongoing strength in core demand drivers and continues to like the long-term positioning of covered names within their sector verticals, coupled with improved visibility around the regulatory environment, the analyst tells investors in a research note. Strong free cash flows and attractive financial flexibility across the bulk of the sector underpins the ongoing growth investment, Truist notes, adding that it sees a “brisk opportunity” to deploy capital to further augment core growth and drive M&A.