CVSCaremark Corporation (NYSE:CVS): Announces New Drugs Store In Honolulu


Dallas, Texas 05/20/2014 (FINANCIALSTRENDS) – CVS Caremark Corporation (NYSE:CVS) recently announced an opening of its Hawaii Longs Drugs store in Makiki which marks first ever full-service store in urban Honolulu. The new store will remain open round the clock for all seven days a week. The store is sprawled across 24,000 sq. ft. area and has been built on the site which was former site for many medical office buildings. The company is also expected to have many more store projects in its development pipeline; however, their locations have not yet been disclosed.

Analysts Updates:

In a research note issued on Monday, equities research analysts at Standpoint Research revealed to have initiated coverage on the stock of CVS Caremark Corporation (NYSE:CVS). The analysts assigned a “sell” rating for the stock with a price objective of $62 which suggests potential downside of 18.71% from its previous close.

Many other investment analysts have also commented on the stock, in a recent past including analysts at Barclays who increased their price target for the stock of CVS Caremark to $85 from their previously set target price of $74 in a research note released on May 5, 2014. The target set by Barclays’ analysts suggests a potential upside of nearly 11.50% from the stock’s previous closing price. They now maintain an “overweight” rating on the stock. Separately, investment analysts at Susquehanna also upgraded their price target for the stock to $85 from their previously set target price of $80.

Consensus Rating:

The stock of CVS Caremark Corporation (NYSE:CVS) has been assigned a “sell” rating by one analyst; a “hold” rating by seven analysts; a “buy” rating by fifteen analysts; and a “strong buy” rating by one analyst. The stock of CVS Caremark currently has a consensus rating of “buy” with an average price target of $75.30. However, yesterday the stock closed at $76.27, losing 0.39% from its previous close. Its RSI (14) is just over 60.

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