It's hard not to notice the sudden interest Wall Street has taken in shares of CVS Health Corporation (CVS) . The stock is up almost 4% Friday after several analysts bumped their price targets on the stock.
The retailer is now up a whopping 7.7% so far on the year, which has only seen four trading days. "They are re-adjusting their business model and I think it's not done going higher," TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment.
Don't forget, CVS recently announced its $69 billion acquisition of Aetna (AET) , a move that underscores how the company is trying to transform itself for a new future. Given the strides that Amazon.com, Inc. (AMZN) is taking in retail, CVS' adaption shouldn't come as much of a surprise.
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"I like it very much," Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said of CVS. He's not alone, either.
SunTrust analysts hiked their price target to $90 from $85, while analysts at Morgan Stanley bumped their target to $88 from $81.
At $90, we're talking about 15.4% upside from current levels. And that's after the stock's rowdy start to 2018, too. In other words, it could still be a big year for CVS stock.
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