Leerink raises CVS Health's PT on steady growth, strong pharmacy and insurance outlook

** Brokerage Leerink Partners raises price target of healthcare conglomerate CVS Health CVS to $86 from $83

** New PT implies a 29% upside to the stock's last close

** Brokerage says that the Health Care Benefits business is the main source of earnings growth and that CVS is well-positioned here, especially in Medicare Advantage

** Brokerage believes that some risks remain in Medicaid and ACA/Obamacare plans, but overall, CVS has less exposure to these problem areas compared to peers

** CVS Caremark, its pharmacy benefits management unit is expected to perform well, driven by specialty drugs and higher usage - Leerink

** Leerink says prescription sales in the retail pharmacy segment is strong and CVS is gaining share, though sales of other products are still weak because consumers are spending less

** As of last close CVS stock up 48.5% YTD