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This board is pretty much dead. I doubt you will get much response.

I think CVS is terrific value. It is beaten down for several reasons:

1. Paid too much for Aetna, and took on lots of debt just before pandemic.

2. Suspended share repurchase and froze dividend to cut debt load.

3. Amazon's entry into mailing prescriptions.

4. Attacks by both parties on high drug prices resulting in prices caps, imports from abroad etc.

5. Repeal of Obama Care will reduce customers for drugs and health insurance.

6. Democratic sweep will result in stronger push for socialized healthcare/Medicare for All, again hurting revenue or margins for Aetna and maybe drug stores.

Don't know which of these threats will materialize in the short or medium term and whether they will actually have the feared impact or not. In the meantime, stock will likely stay depressed at leat thru 2021 or until CVS resumes repurchase and dividend raises.

For what it is worth, Morningstar has a Fair value estimate of $92 and current price is about 40% discount.
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