Goldman Sachs Upgrades Walgreen (WAG) to Conviction Buy

January 4, 2011 7:01 AM EST
Get Alerts WAG Hot Sheet
Price: $76.05 --0%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

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Goldman Sachs upgraded Walgreen (NYSE: WAG) from Neutral to Conviction Buy List with a $46 price target, suggesting 17% upside.

The firm is confident in the firm's life cycle story, as focus on existing assets is yielding stronger margin and expense control outcomes. The firm also said sector drivers, including better front-end sales, easier flu compares, and the impact of generics on margins in 2011-12, are still poised to kick in.

For more ratings news on Walgreen click here and for the rating history of Walgreen click here.

Shares of Walgreen closed at $39.32 yesterday.

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