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While the market is still quite fragmented, HSBC believes there are attractive growth opportunities.
CVS was assigned a $94 per share price target, implying a potential 21.7% upside from current levels. The bank said the company has an attractive and undervalued moat and is trading at a steep discount to historical levels.
In addition, HSBC said that with the company’s shares “down roughly 18% LTM (vs SPX up by 23% over the same period),” the sell-off “appears overdone.”
WBA was assigned a $27 per share price target. HSBC believes the company requires operational discipline to improve its execution, boost overall performance, and restore profitability.
Furthermore, while WBA faces “near-term operational challenges,” it could unlock value, but the “execution risks are significant,” according to analysts.
