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CVS Caremark’s Estimates Boosted at JMP Securities (CVS)

Drug store chain operator CVS Caremark Corporation ( CVS ) on Tuesday saw its earnings estimates raised by analysts at JMP Securities.

The firm said it boosted its estimates for CVS through 2012, citing better expected performance in its pharmacy-benefit management ( PBM ) division as well as potential to deploy some of its strong cash flow. JMP maintained its "Market Outperform" rating.

CVS Caremark shares, which have risen around 2% year-to-date, were mostly flat in premarket trading Tuesday.

The Bottom Line

Shares of CVS Caremark ( CVS ) have a 1.41% dividend yield, based on last night's closing stock price of $35.55. The stock has technical support in the $32 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

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 Nasdaq, Inc.

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

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