CVS Health is trading near $94, a 19% discount to the $116.28 average analyst price target and roughly 50% below the $141.05 base-case one-year target in 24/7 Wall St.'s own valuation model. Management raised full-year 2026 adjusted EPS guidance to a range of $7.90 to $8.10 from $7.30 to $7.50 and lifted operating cash flow guidance to at least $11.5 billion. Second-quarter 2026 adjusted EPS of $2.58 beat consensus by 37.97%, and Aetna's medical benefit ratio improved to 87.4% from 89.9%. Full-year 2026 consensus EPS has drawn 22 upward analyst revisions and zero downward revisions over the trailing 30 days. The bull case rests on Aetna's margin recovery proving durable, while PBM re-regulation, 340B pressure, and drug pricing rules remain the sharpest threats to the thesis. The next checkpoint is third-quarter 2026 earnings, expected November 4, 2026, a date not yet confirmed by the company.
CVS Health CorpCVS raised FY2026 adjusted EPS guidance to $7.90-$8.10 and lifted operating cash flow guidance to at least $11.5B, with Q2 EPS beating consensus by 37.97%.
