Jefferies Upgrades Walgreen (WAG) to Buy

January 7, 2013 7:15 AM EST Send to a Friend
Get Alerts WAG Hot Sheet
Price: $68.61 +0.20%

Rating Summary:
    15 Buy, 12 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
Trade WAG Now!
Join SI Premium – FREE
Jefferies upgraded Walgreen (NYSE: WAG) from Hold to Buy with a price target of $47.00 (from $40.00).

The firm comments, "We are upgrading WAG to Buy from Hold as our research continues to suggest that purchasing synergies are materializing faster than expected. In addition, the potential for higher script volumes (Flu/Med D/ObamaCare) could also drive better profitability. With valuation at the low-end of its range and at roughly a 2x P/E discount to CVS, investors could be rewarded with both EPS surprises and multiple expansion over the next 12 months."

The firm trimmed Q2 EPS from $0.69 to $0.58 but raised FY13 EPS from $3.23 to $3.27.

For an analyst ratings summary and ratings history on Walgreen click here. For more ratings news on Walgreen click here.

Shares of Walgreen closed at $37.18 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst EPS Change, Analyst PT Change, Upgrades

Related Entities

Jefferies & Co

Add Your Comment