Gabelli & Co Starts Walgreen (WAG) at Buy
More News related to WAG
- Walgreens (WAG) Announces Retirement of Three Board Members
- Walgreen Co. Announces the Retirement of Three Board Members in January
- Walgreens Names Kathleen Wilson-Thompson Senior Vice President and Chief Human Resources Officer; Charles V. Greener Named Vice President of Corporate Affairs and Communications
- New Walgreens.com Launches, Featuring Enhanced Pharmacy, Health, Photo and Mobile Options
- Additional Seasonal Flu Vaccine Now Available at Take Care Clinics Nationwide
Gabelli & Co initiates coverage on Walgreen (NYSE: WAG) with a Buy rating.
The firm notes, "The company is refocusing on its core strengths by moving back to skin care and OTC drug sales and away from seasonal and discretionary products...WAG has brought in experienced management to help implement initiatives that are expected to save over $1 billion annually by 2011...margins have been under pressure due to the weak economy, but with conservative estimates we believe Walgreens can grow revenues 8% annually and is attractive currently trading at 6.2x 2009 EBITDA and 14.1x earnings... 2010 PMV of $46."
Related Categories
New CoverageStocks Mentioned
-0.22Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
