CVS Health (NYSE:CVS) has outperformed the market over the past 20 years by 2.2% on an annualized basis producing an average annual return of 10.08%. Currently, CVS Health has a market capitalization of $139.77 billion.
Benchmark analyst Michael Legg initiated coverage on Canoo with a Buy rating and a price target of $5 Wednesday. Legg highlighted the company's pipeline which features $750 million in contracted orders with clients including Walmart Inc., the United States Postal Service and the U.S. military. The analyst said that the market appears to have "lost sight of the magnitude of the opportunity" in Canoo.