Citi Provides Optimistic Color On CVS Caremark

According to a recent report by Citi, CVS Caremark (NYSE: CVS) was very optimistic at the 2011 Global Consumer Conference in NYC. At the conference, the company maintained focus on pharmacy growth, improving trends, and increasing customer service. Following the conference, Citi has reiterated the Buy rating and $41.00 price target on the company.

In the report, Citi said, "Management discussed key initiatives focused on driving growth at its retail pharmacy and PBM. CVS also emphasized that it will use its strong free cash flow to return value to shareholders."

Key CVS Caremark players in attendance were President and CEO, Larry Merlo, EVP and CFO, David Denton and SVP of Investor Relations, Nancy Christal.

CVS closed yesterday at $38.17.