Goldman Sachs Downgrades CVS Caremark (CVS) to Neutral, Few Catalysts

Goldman Sachs today downgraded CVS Caremark (NYSE: CVS) from Buy to Neutral with a price target of $57.00. Analysts said they continue to see CVS as well positioned, but they don't see near-term catalysts and expect earnings growth to decelerate.

"We expect earnings momentum to fade through 2013 as discrete drivers of recent quarters abate," said anlayst Matthew J. Fassler. "We expect less help from generics, [Walgreen Co. (NYSE: WAG) / Express Scripts (Nasdaq: ESRX)] share gains, PBM acquisitions, and flu. We continue to view the firm as well-positioned and as a core retail holding for longterm oriented investors."

For an analyst ratings summary and ratings history on CVS Caremark (NYSE: CVS) click here. For more ratings news on CVS Caremark click here.

Shares of CVS Caremark closed at $52.63 yesterday.

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