Walgreens Boosts Alliance (WBA) Added to Credit Suisse U.S. Focus List
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Credit Suisse added Walgreens Boosts Alliance (NASDAQ: WBA) to its U.S. Focus List, while reiterated an Outperform rating and price target of $95.
Analyst Robert Willoughby commented, "The successful closing of the Rite Aid acquisition in 2H16 brings meaningful revenue growth, cost cutting, and cash flow opportunities to drive WBA's shares materially higher. Downside from the deal not closing as expected is limited, in our view, given new and potentially more preferred pharmacy network agreements with the leading PBMs, contributions sooner than expected from the early AmerisourceBergen warrant exercise, and ongoing capital deployment."
Shares of Walgreens Boosts Alliance closed at $80.71 yesterday.
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