UPDATE: ISI Group Initiates CVS Caremark at Overweight, $53.50 PT
ISI Group initiated its coverage on CVS Caremark (NYSE: CVS) with a rating of Overweight and a price target of $53.50.
ISI Group commented, "Our thesis for CVS is based on our view of continued share gain at the pharmacy given the success of Maintenance Choice and the continuation of the WAG/ESRX dispute, improved growth and profitability at Caremark as a result of innovative solutions and the streamlining initiative, and a very shareholder friendly approach to capital deployment and enhanced capital returns."
CVS Caremark closed at $46.90 on Wednesday.
Latest Ratings for CVS
|Feb 2016||Atlantic Equities||Initiates Coverage on||Overweight|
|Jan 2016||Baird||Initiates Coverage on||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.