UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on CVS Caremark Corporation
In a report published Friday, Cantor Fitzgerald reiterated its Buy rating on CVS Caremark Corporation (NYSE: CVS), and raised its price target from $55.00 to $57.00.
Cantor Fitzgerald noted, “Despite some concerns over what CVS could possibly do for an encore following some exceptional tailwinds in 2012, the combination of a major dividend increase and very strong (above consensus) EPS guidance set the tone for a very upbeat analyst meeting. We liked what we heard in the management presentations and have greater conviction in our 2013 earnings outlook. We reiterate our BUY rating with a revised price target is $57 (from $55).”
CVS Caremark Corporation closed on Thursday at $48.50.
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