Goldman Sachs Downgrades Walgreen (WAG) to Buy, Less Upside Potential

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Goldman Sachs downgraded Walgreen (NYSE: WAG) from Conviction Buy to Buy with a price target of $50.00 (from $46.00). Analyst Matthew J. Fassler said he saw less upside in the stock now that the market increasingly appreciates WAG's association with Alliance-Boots.

"We maintain a Buy rating given accelerating earnings momentum and the potential for the ABC distribution deal to drive synergies beyond our current forecast," said Fassler.

For an analyst ratings summary and ratings history on Walgreen (NYSE: WAG) click here. For more ratings news on Walgreen click here.

Shares of Walgreen closed at $44.74 yesterday, with a 52 week range of $28.53-$45.80.

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