This excerpt taken from the CVS 8-K filed Feb 13, 2007.
Equity Research Analysis
Evercore compared recent publicly available research analyst price targets from firms that published price targets for CVS or Caremark as of October 31, 2006, the last trading day prior to the announcement of the transaction.
Evercore calculated the mean and median target price for each of the CVS common stock and the Caremark common stock based on the analysts price targets. The analysis yielded mean and median share price targets for CVS of $39.47 and $40.00, respectively. Similar analysis for Caremark yielded mean and median share price targets of $63.96 and $62.00, respectively.