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UBS says CVS shares 'too good to pass up,' initiates at buy

A CVS ad for same-day delivery in New York City's subway.
Scott Mlyn | CNBC

UBS initiated its rating for CVS Health at buy on Thursday, saying the opportunity is "too good to pass up."

"The wall of worry around CVS' 2019 earnings guide and concerns around the timing of the next positive catalyst have pushed CVS stock down to where the risk-reward is very appealing," the bank's analyst Kevin Caliendo said in a note on Thursday.