Jefferies Assumes, Upgrades Walgreens Boosts Alliance (WBA) to Buy

October 17, 2016 6:58 AM EDT
Get Alerts WBA Hot Sheet
Price: $82.30 -0.18%

Rating Summary:
    20 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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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"

For an analyst ratings summary and ratings history on Walgreens Boosts Alliance click here. For more ratings news on Walgreens Boosts Alliance click here.

Shares of Walgreens Boosts Alliance closed at $78.31 yesterday.

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