This morning, UBS increased its price target on shares of CVS Caremark (NYSE:CVS) to $77 after the joint venture with Cardinal Health (NYSE:CAH) was announced. In the report, UBS reiterated its buy rating and noted that the new generic drug procurement deal will add to earnings going forward. Shares of CVS were higher by 0.4% today.
BMO Capital increased its price target on shares of Forest Labs (NYSE:FRX) to $49 as the company's stock repurchase program and cost-cutting initiatives will both benefit earnings. In the report, BMO maintained its market perform rating. Shares of Forest Labs were flat on Wednesday, trading just above $55 per share.
And Nomura upgraded shares of 3M (NYSE:MMM) to a buy rating as the company is seeing better organic sales growth. In the report, Nomura set a $150 price target. Shares of 3M were higher by 0.6% following the report.
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