CVS Earnings Results To Be Reported Tomorrow

Deutsche Bank has published a research report on CVS Caremark Corporation CVS in anticipation of the company's 3Q earnings results. In the report, Deutsche Bank writes "CVS reports Q3 results Wednesday, and on the heels of the Oct. 8 analyst meeting, we do not expect major surprises. We model Q3 EPS of $0.64, in-line with Consensus, and guidance reiterated at the meeting. FCF likely remained strong, and share buybacks continue. The 2011 PBM selling season will be the key focus on the call. CVS's valuation is very compelling given continued retail Rx market share gains, the upcoming wave of high-margin generics, specialty Rx growth, a stabilizing PBM, and an aging population driving Rx demand." Deutsche Bank maintains its Buy rating and $45 price target. CVS Caremark Corporation closed yesterday at $29.90.