Walgreens Boosts Alliance (WBA) PT Lowered to $32 at Evercore ISI, 'Lowering Estimates on Add’l Headwinds'

Evercore ISI analyst Elizabeth Anderson lowered the price target on Walgreens Boosts Alliance (NASDAQ: WBA) to $32.00 (from $35.00) while maintaining a In Line rating.

The analyst comments "Ahead of WBA’s earnings next month, and post a recent catch up with the company, we are lowering our estimates (slightly for FY23 and moreso beyond). While our estimates remain within striking distance of management’s FY23 EPS guidance, we are somewhat less constructive on WBA’s longer-term EPS growth given continued industry headwinds and 340B (which can only be partially offset). Given these estimate changes, we are lowering our price target to $32 (6.5x CY24 EBITDA)."

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