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BMO Capital Upgrades CVS Caremark to “Outperform” (CVS)

By Dividend.com,  August 08, 2012, 09:06:10 AM EDT

Drug store chain operator CVS Caremark Corporation ( CVS ) on Wednesday caught a big upgrade from analysts at BMO Capital Markets.

The firm boosted its rating on CVS from "Market Perform" to "Outperform" with a $53 price target. That target suggests a 20% upside to the stock's Tuesday closing price of $44.12.

BMO Capital said it believes CVS will show earnings strength and higher margins in the next several quarters.

CVS Caremark shares posted modest gains in premarket trading Wednesday.

The Bottom Line
Shares of CVS Caremark ( CVS ) have a 1.45% dividend yield, based on last night's closing stock price of $44.12. The stock has technical support in the $41-$42 price area. The stock is trading close to the all-time high levels of $48-$49 a share.

CVS Caremark Corporation ( CVS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CVS



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