Jefferies Assumes, Upgrades Walgreens Boosts Alliance (WBA) to Buy
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Jefferies upgraded Walgreens Boosts Alliance (NASDAQ: WBA) from Hold to Buy with a price target of $95.00 (from $87.00) in assumed coverage.
Analyst Brian Tanquilut commented, "We are assuming coverage of WBA with a Buy and a $95PT (previously Hold/ $87PT). Our positive thesis is two-fold: we believe 1) the risk-reward on the RAD deal is skewed positively at current prices (7% down, >11% up) and 2) that investors are underappreciating WBA's fundamental positives (i.e., pharmacy market share gains, G&A reductions, strengthening FCF) that will drive accelerated EPS growth LT"
Shares of Walgreens Boosts Alliance closed at $78.31 yesterday.
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