Jefferies Boosts Numbers on CVS (CVS) Post Analyst Day

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Jefferies raised estimates and its price target on Buy-rated CVS Caremark (NYSE: CVS) from $54 to $58 following the company's analyst day.

The firm comments, "Post the company’s Analyst Day we have raised our forecast for FY13 and FY14 to reflect higher cash flow expectations, increased share repurchases and improved profitability. While we have tempered revenue growth for FY13, our FY14 forecast reflects stronger revenue growth driven by the company’s Mail Choice program and the potential for Caremark to see outsized growth in covered lives."

Q4 EPS goes up from $1.10 to $1.11, FY12 EPS goes from $3.40 to $3.41, and FY13 goes from $3.84 to $3.91.

For an analyst ratings summary and ratings history on CVS Caremark click here. For more ratings news on CVS Caremark click here.

Shares of CVS Caremark closed at $48.75 yesterday, with a 52 week range of $37.81-$49.80.

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