Seeking Alpha

UBS out positive on new Cardinal, CVS JV

  • Cardinal Health (CAH +0.6%) "expects the JV to be neutral to EPS in FY14 (ending in June), but should be accretive in FY15, w/ greater accretion in FY16," UBS notes, referring to the new generic sourcing entity the company has created with CVS Caremark.
  • Analyst Steven Valiquette sees a $0.10-0.22 pro forma EPS opportunity by 2016.
  • Price target raised to $77 from $70.
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