Market Overview

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

Related CVS
Morgan Stanley Thinks CVS Surcharge May Replace Lost Tobacco Revenue
#PreMarket Primer: Tuesday, October 21: China's Third Quarter Growth Disappoints
Making Money With Charles Payne: 10/08/14 (Fox Business)

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
Sep 2014Cowen & CompanyUpgradesMarket PerformOutperform
Aug 2014BarclaysMaintainsOverweight
Aug 2014JP MorganMaintainsOverweight

View More Analyst Ratings for CVS
View the Latest Analyst Ratings

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

 

Related Articles (CVS)

Around the Web, We're Loving...

Get Benzinga's Newsletters