NEW YOR (AP) — A Citi Investment Research analyst raised her price target on shares of CVS Caremark Corp. after the company received a pharmacy benefits management contract estimated at $3 billion per year.
Company shares rose more than 1 percent, or 45 cents, to $39.25 before the market opened Tuesday.
Analyst Deborah Weinswig kept a "Buy" rating on the stock and boosted her target to $46 per share from $41. That implies the stock will rise about 19 percent in the next year. Shares of CVS Caremark last traded over $40 in mid-2008.
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