NEW YORK (TheStreet) -- Shares of CVS Health Corp. (CVS) are up 0.32% to $95.82 after Suntrust Robinson Humphrey upgraded the pharmacy healthcare provider to "buy" from "neutral" with a price target of $110, following the company's analyst day presentation earlier this week.
The Rhode Island-based company raised its quarterly dividend, announced a new share buyback program and issued EPS growth for next year, helped by strength in specialty drugs.
The company announced that it would raise its quarterly cash dividend by 27% to 35 cents per share.
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CVS added that its stock repurchase plan covers as much as $10 billion in shares, and will be completed over a multiyear period.
The company issued 2015 earnings guidance of between $5.05 to $5.19 per share, compared to analysts' forecasts of $5.11 per share. CVS also forecast 2015 cash flow of $5.9 billion to $6.2 billion, using some of it for acquisitions and other investments.
Additionally, analysts at JPMorgan raised their price target on the company to $108 from $92 and maintained their "overweight" rating on Wednesday.
Separately, TheStreet Ratings team rates CVS HEALTH CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CVS HEALTH CORP (CVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."