JP Morgan Reports on CVS Caremark

JP Morgan commented on CVS Caremark CVS in a report released today. In the report, JP Morgan was positive in its assessment of the company. JP Morgan writes, "The company has guided to an impressive target of $5.5-$6.5B in average annual cash available for enhancing shareholder value, which should provide flexibility for incremental share repurchases and dividend increases. Our rating on CVS Caremark is Overweight, as we are a believer in the integrated PBM-retail pharmacy model, and believe earnings growth should improve in 2012 driven by a reacceleration of growth in the PBM division." JP Morgan currently has an Overweight rating on CVS Caremark and a price target of $43. Shares of CVS Caremark closed at $37.97 on Friday.