CVS Health and Target Sign Agreement for CVS Health to Acquire, Rebrand and Operate Target's Pharmacies and Clinics

Target (TGT) Enters Purchase Agreement with CVS Health; Piper Jaffray Reiterates Overweight

Piper Jaffray reiterates an Overweight rating and $91.00 price target on Target (NYSE: TGT) as TGT enters deal with CVS. CVS is to purchase, rebrand, and operate TGT's Pharmacy and clinic business for $1.9B. Analyst Sean Naughton sees this deal as an... More

Moosy'a Affirms CVS Health's (CVS) 'Baa1' Senior Unsecured Rating Amid Target (TGT) Asset Deal

Moody's Investors Service today affirmed CVS Health (NYSE: CVS) Baa1 senior unsecured rating following its announcement that it will be acquiring the pharmacy and clinic business of Target Corporation in a transaction valued at $1.9 billion. CVS Health will finance this acquisition with debt. At the same time, CVS Health lowered its level of expected share repurchases in 2015 by $1 billion. CVS Health now expects to make about $5 billion of share repurchases in 2015. The rating outlook remains stable.

The following ratings are affirmed:

Senior unsecured notes at Baa1

Commercial Paper rating at... More

CVS Health (CVS) to Acquire TGT Pharmacies for $1.9B; Cowen Reiterates Outperform

Cowen maintains an Outperform rating and $116.00 price target on CVS Health (NYSE: CVS) following CVS's announcement to acquire TGT pharmacies. CVS will acquire more than 1,660 pharmacies across 47 states, for $1.9B.

Analyst Charles Rhyee commented, "We are positive on CVS's agreement to acquire,... More

CVS Health (CVS) to Acquire Target's (TGT) Pharmacy, Clinic Business in ~$1.9B Deal

CVS Health Corporation (NYSE: CVS) and Target Corporation (NYSE: TGT) announced that they have entered into a definitive agreement for CVS Health to acquire Target's pharmacy and clinic businesses for approximately $1.9 billion. Through this agreement, CVS Health will acquire Target's more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. Target's nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS Health... More