Karen Finerman Building A Position In CVS Caremark (CVS)
Karen Finerman revealed on Fast Money tonight that her best idea for 2010 is CVS Caremark (NYSE: CVS). She highlighted this pick earlier in the week at the Harbor Investment Conference. Finerman said that at the current stock price, you are buying CVS Caremark's Pharmacy-Benefit Management division at 7 times earnings. She said that she has a great deal of conviction in this stock.
Furthermore, Jim Cramer just called CVS very cheap on Mad Money, and said that depending on the earnings numbers which will be released on Monday morning, he may be recommending the stock at the beginning of next week.
Wall Street analysts are expecting EPS of $0.78 versus $0.70 in the year ago period. In the after hours, the share price of CVS jumped around 50 cents on the comments from Finerman. The stock is currently trading hands for $32.00. Keep an eye on this name at the open on Monday.
