Market Overview

UPDATE: Jefferies Reduces PT to $52 on CVS Caremark on Competitive Pressures

Share:
Related CVS
25 Companies That Could Still Buy Back Mountains Of Stock
Barron's Picks And Pans: Ctrip, Franklin Electric And More
Stock Mutual Funds Could See Some Recovery By Midyear (Investor's Business Daily)

Jefferies reiterated its Buy rating on CVS Caremark (NYSE: CVS) but lowered its price target from $52 to $50.

Jefferies noted, "While we recognize that the ESRX/WAG deal has taken some of the air out of the CVS story, the company's advantaged business model, significant cash flow, and solid management, suggest CVS is undervalued. Indeed, even though we have slightly lowered our FY13 forecast to account for some of the ESRX business returning to WAG, given the strength in the business, we would not be surprised if CVS exceeds our forecasts for FY12 & 13."

CVS Caremark closed at $44.12 on Tuesday.

Latest Ratings for CVS

DateFirmActionFromTo
Feb 2016Atlantic EquitiesInitiates Coverage onOverweight
Jan 2016BairdInitiates Coverage onOutperform
Dec 2015BarclaysReinstatesOverweight

View More Analyst Ratings for CVS
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CVS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters