CVS brings back coverage for Lilly's obesity drug Zepbound - Reuters
Consumer
CVS Caremark is restoring coverage of Lilly's Zepbound after Lilly cut pricing, potentially opening access to millions of insured Americans. LLY has already ripped 4.1% on the news, raising the question of whether the move is fully priced or sets up a continued re-rating.
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Angle
↓ SHORT-4% target+3% stop5-10 trading days
Fade the LLY spike near-term — stock is up 4% on news already digested by the market, insiders are selling, and consensus is already Buy-heavy with no new price-target catalyst to drive further re-rating.