UPDATE: Barclays Raises PT to $57 on CVS Caremark Following Meeting with Management
Barclays reiterated its Overweight rating on CVS Caremark (NYSE: CVS) and raised its price target from $54 to $57.
Barclays noted, "At CVS Caremark's 2012 analyst meeting, management showed investors how the company's business model gives it meaningful competitive advantages as the US healthcare industry is transformed. [P]erhaps most significant, is the change in rationale for payments to healthcare providers, especially doctors and hospitals, as the nation moves from fee-for-service to outcomes-based payment. We see many approaches to pay-for-performance, but encouraging patients to remain adherent to their medications is crucial to all of them."
CVS Caremark closed at $49.24 on Friday.
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