Wells Fargo reaffirmed its “Overweight” rating on CVS Health (NYSE:CVS), raising the price target from $76 to $84.
CVS Health’s stock experienced a slight decrease to $67.10, amidst a volatile year with a high of $72.51 and a low of $43.56.
Eli Lilly, a competitor, reported a significant 45% revenue increase in Q1 2025, with strong sales guidance for the fiscal year.
On May 6, 2025, Wells Fargo maintained its “Overweight” rating for CVS Health (NYSE:CVS), with a recommendation to “hold” the stock. At the time, CVS’s stock price was $67.10. Wells Fargo also raised its price target for CVS from $76 to $84, as highlighted by TheFly. CVS Health is a leading healthcare company in the United States, providing a wide range of services including pharmacy benefits management and retail pharmacy services.
Despite the “hold” recommendation, CVS’s stock price experienced a slight decrease of 0.36, or approximately -0.53%, settling at $67.10. The stock fluctuated between a low of $66.92 and a high of $68.28 during the day. Over the past year, CVS’s stock has seen a high of $72.51 and a low of $43.56, indicating some volatility in its performance. The company’s market capitalization is approximately $84.71 billion, reflecting its significant presence in the healthcare sector.
In contrast, Eli Lilly, a competitor in the healthcare industry, reported a strong 45% increase in revenue for the first quarter, reaching $12.73 billion. This growth was driven by a 53% increase in volume, although it was partially offset by a 6% decrease in realized prices and a 2% negative impact from foreign exchange rates. Key products like Mounjaro and Zepbound contributed significantly to Eli Lilly’s revenue, with an increase of $4.09 billion, totaling $7.52 billion in the first quarter of 2025.
Eli Lilly has maintained its fiscal year 2025 sales guidance between $58 billion and $61 billion, aligning closely with the market consensus of $59.52 billion. This represents a substantial increase from $45.04 billion in 2024. However, the company adjusted its 2025 earnings per share (EPS) outlook downward, from a range of $22.50-$24.00 to $20.78-$22.28, due to the impact of acquired in-process research and development (IPR&D) in the first quarter. Despite these adjustments, analysts believe that concerns over CVS’s setback are exaggerated, suggesting that Eli Lilly’s overall performance remains strong.
