Why CVS Stock Thrashed the Market on Thursday

Core Viewpoint - CVS Health's stock price has experienced a significant increase, closing almost 5% higher, driven by positive investor sentiment and analyst price target raises [1] Group 1: Earnings Report - CVS Health's fourth-quarter earnings report exceeded consensus analyst estimates for revenue and significantly surpassed expectations for non-GAAP adjusted net income [2] Group 2: Analyst Reactions - Following the earnings report, multiple analysts raised their price targets for CVS stock, with Michael Cherny from Leerink Partners upgrading his recommendation from market perform to outperform, citing improvements in the Aetna insurance business and undervaluation of the stock [3] - David MacDonald from Truist Securities raised his price target for CVS from $60 to$76 per share while maintaining a buy recommendation [4]