Market Overview

Bank of America Merrill Lynch Reiterates Buy Rating, $49 PT on CVS Caremark Corporation

Share:
Related CVS
Jim Cramer Advises Viewers On Carnival Corp, Chicago Bridge & Iron Company N.V., CVS Health And McDonald's
Stocks Buffeted Between Short-Term Oil Gains, Global Economic Uncertainty
Ray Dalio Invests in Nearly 4 Dozen New Stakes (GuruFocus)

In a report published Friday, Bank of America Merrill Lynch reiterated its Buy rating and $49.00 price target on CVS Caremark Corporation (NYSE: CVS).

BofA Merrill Lynch noted, “According to media reports, CVS will buy an 80% stake in Brazilian retail pharmacy chain Onofre for $313 million, plus assumed debt. The deal adds 44 stores (the eighth-largest chain in Brazil) in a high-growth region with rapidly expanding health care coverage. However, we maintain our 2013 EPS estimate ($3.57) at this time, on the relatively small investment size and what we expect are few operating synergies.”

CVS Caremark Corporation closed on Thursday at $46.71.

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: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CVS)

Get Benzinga's Newsletters