Pharmacy chain operator CVS Caremark Corporation (CVS) on Thursday caught some bullish commentary from analysts at two major Wall Street firms.
UBS Boosts Target, Estimates
Analysts at UBS maintained their “Buy” rating on CVS and lifted their price target to $53, suggesting a 15% upside to the stock’s Wednesday closing price of $45.92. The firm also raised its earnings estimates for the company, noting that shares could move further to the upside if competitor Wallgreen (WAG) still fails to strike a deal with ExpressScripts (ESRX).
Jefferies Also Increases Numbers
Jefferies & Co. also got even more bullish on CVS, raising its own price target to $52. The analyst also maintained its “Buy” rating on the stock and lifted its earnings estimates, citing CVS’ better-than-expected earnings and forecast.