UPDATE: Citigroup Initiates Coverage On CVS Health On Strong Growth Outlook

In a report published Wednesday, Citigroup analyst Alvin C. Concepcion initiated coverage on

with a Neutral rating and $99.00 price target. In the report, Citigroup noted, “We rate CVS Neutral with a $99 target price. While we believe the company is on track to achieve the top end of its long-term growth guidance and should benefit from its multi-channel business model, strong growth initiatives that are driving share gains, and industry tailwinds, we think much of this growth is reflected in the current stock price.” CVS Health closed on Tuesday at $91.25.