CVS Gains 6% On Raised 2020 Profit Outlook; Analyst Says Hold

Shares of CVS Health Corp. rose 5.8% on Friday after the retail pharmacy chain operator and healthcare services provider reported stronger-than-expected 3Q results and raised its profit and cash flow guidance for the full-year 2020.CVS Health’s (CVS) 3Q adjusted EPS of $1.66 decreased 9.8% from the year-ago quarter but came ahead of consensus estimates of $1.33. Revenues of $67.06 billion grew 3.5% year-over-year and topped Street estimates of $66.7 billion.CVS CEO Larry J. Merlo said, “Our...