UBS Starts Walgreens Boosts Alliance (WBA) at Buy
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UBS initiates coverage on Walgreens Boosts Alliance (NASDAQ: WBA) with a Buy rating and a price target of $94.00.
Analyst Michael Cherny commented, "We are initiating coverage of Walgreens Boots Alliance with a Buy rating and a $94 price target. Walgreens is one of the two largest drug retailers in the US as well as the leading European drug retailer, with a focus on offering a combination of both convenience and differentiated products (including the No7 beauty products from Boots). The company is also in the midst of broadening its channel partnerships through a number of agreements with various different supply chain constituents, all targeted at driving improved productivity of the “box.” Note: UBS is acting as financial advisor to Walgreens in its pending acquisition of Rite Aid."
Shares of Walgreens Boosts Alliance closed at $80.51 yesterday.
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