Walgreens Boosts Alliance (WBA) PT Raised to $56 at Morgan Stanley on the Potential for Walgreens Health

Morgan Stanley analyst Ricky Goldwasser raised the price target on Walgreens Boosts Alliance (NASDAQ: WBA) to $56.00 (from $52.00) while maintaining a Equalweight rating due to the many moving parts of the story.

The analyst stated "The Walgreens story contains a multitude of moving parts, particularly the newly formed Health Segment and ~$6.5B in recent acquisitions (discussed here). It’s early days for the Walgreen’s Health strategy – we see it as a show-me story and argued post the analyst day that greater visibility into this business will be needed to ensure investor buy in. With EPS growth not expected to see a meaningful inflection until FY25, we expect shares to trade on near-term fundamentals and progress in the Health segment".

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