Cvs (cvs) Stock Gets Price Target Hike At Oppenheimer

NEW YORK (TheStreet) -- CVS Health Corp.'s price target was raised to $122 from $119 at Oppenheimer this morning. The firm's rating remains unchanged at "outperform." The firm made this update due to potential acquisitions. CVS closed on its Omnicare acquisition on August 18 and expects to close a Target pharmacies and clinics acquisition by the end of 2015 or in 2016, Oppenheimer said. "While there are still uncertainties on the final accretion and moving parts in estimates, we are taking a shot at the combined model and publishing CY15 and CY16 estimates with the acquisitions," the firm said in a note. Oppenheimer's earnings estimate for 2016, taking Omnicare and Target Rx/clinics into account, rose to $6.08 from $5.93 per share. Shares of CVS were down 1.05% to $104.10 in mid-morning trading on Friday. Separately, TheStreet Ratings team rates CVS HEALTH CORP as a Buy with a ratings score of A+.