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CVS Health sees in-line 2022 profit as COVID-19 costs subside

CVS Health Corp on Wednesday said its adjusted profit target for 2022 should largely meet Wall Street estimates, as it expects volatile medical costs in its health insurance unit to stabilize after the COVID-19 crisis drove them up this year. Shares of the company, best-know for its drugstore chain, rose nearly 3% in morning trading, as CVS also raised its 2021 profit forecast. “We believe that current analyst estimates for 2022 adjusted EPS of approximately $8.20 are within our anticipated initial guidance range,” Chief Financial Officer Shawn Guertin told analysts on a conference call.

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