Wells Fargo Downgrades Walgreens Boosts Alliance (WBA) to Equal Weight

Wells Fargo analyst Peter Costa downgraded Walgreens Boosts Alliance (NASDAQ: WBA) from Overweight to Equal Weight.

The analyst comments "The low valuation and broad retail footprint, combined with many JVs and Boots brands that could ultimately perform well are offset by pricing risks pressuring the pharmacy counter and competitive pressure on front store margins. While an LBO deal may emerge for WBA, our view of the longer term prospects suggest only a purchase price in the mid-60s. In the longer term, the shares also have additional risk from the growing opioid litigation."

For an analyst ratings summary and ratings history on Walgreens Boosts Alliance click here. For more ratings news on Walgreens Boosts Alliance click here.

Shares of Walgreens Boosts Alliance closed at $58.41 yesterday.

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