Deutsche Bank Reports CVS Caremark's Expected EPS Range Ahead of Analyst Day

Deutsche Bank has published a report on CVS Caremark CVS ahead of the company's Analyst Day, showing an expected EPS range on $3.15-$3.25. In the report, Deutsche Bank writes, "CVS issued guidance for FY12, ahead of its Analyst Day presentation. The company expects EPS in the range of $3.15‐$3.25, and brackets the consensus and DBe of $3.20. Retail operating profits are expected to be up by 7%‐9%, and pharmacy services (PBM) are expected to be up 11%‐15%. Free cash flow is expected to be in the range of $4.3‐$4.6 billion range. The guidance assumes completion of $3 billion in share repurchases, and does not contemplate any potential benefit from the ongoing dispute between ESRX and WAG." Deutsche Bank maintains its Hold rating and $40 price target on CVS Caremark, which closed yesterday at $36.56.