CVS Health Corporation (NYSE: CVS)

CVS Health Corporation (NYSE: CVS) is a health care company that owns the CVS Pharmacy retail pharmacy chain, as well as health insurance provider Aetna, pharmacy benefits manager CVS Caremark and several smaller operations.

Earlier this week, Piper Sandler initiated coverage on CVS Health Corporation stock with a Buy rating and a price target of $72 – more than 20% higher than its current price.

Piper Sandler analyst Sara James indicated that CVS Health is well-positioned to transform healthcare access and quality as well as reduce costs for consumers.

CVS Health Corporation currently has the largest number of independently run Covid-19 test sites in the country and is planning to add more than 2,000 new drive-thru test sites online that will bring its total number of sites to more than 4,000 by mid-October.