Morgan Stanley Maintains Equal-Weight on CVS/Caremark

Morgan Stanley is out with its report today on CVS/Caremark (NYSE: CVS), maintaining Equal-weight.

In its report, Morgan Stanley writes, 'Valuation is temping, but after years of disappointments, CVS needs to prove its PBM operating income performance to the market. We maintain our Equal-weight rating."

Shares of CVS closed Tuesday at $33.80.