UPDATE: Goldman Sachs Downgrades CVS Caremark to Neutral on Decelerating EBIT

Goldman Sachs downgraded CVS Caremark

from Buy to Neutral and maintained a $57.00 price target. Goldman Sachs commented, "CVS has a solid foundation, and bright intermediate-term prospects, notably from healthcare reform, which should drive accelerating script growth in 2014 and beyond. That said, for the first time since we launched, incremental near-term catalysts are lacking, earnings growth is slated to decelerate, and we expect EBIT growth to moderate as discrete earnings drivers abate. … Our $57, 12-month price target is based on risk/reward (relative P/E). Upside risks include WAG execution, generic benefits, and healthcare reform. Downside risks include front-end sales and reimbursement pressures." CVS Caremark closed at $62.63 on Monday.