CVS Health (CVS) jumped nearly 4% Tuesday, showing notable relative strength as the broader market moved sharply lower. The move followed bullish commentary from Jefferies, which named CVS its top large-cap healthcare-services pick, maintained a Buy rating and set a $120 price target.

The firm pointed to improving earnings prospects, continued margin recovery at Aetna and the potential resumption of share buybacks. The fundamental catalyst lines up nicely with the technical picture, as CVS broke back above several key moving averages while momentum indicators turned higher. If the breakout holds, the next area to watch is roughly $102–$105.

Wishing you the best,

Wendy

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