Walgreen (WAG) Shares Head Lower as Raymond James Cuts to Market Perform in Mid-Day Note

Shares of Walgreen (NYSE: WAG) took another leg lower in afternoon trade Tuesday following a late-day downgrade from Raymond James. The reduced investment rating follows a Q4 beat but concerning comments related to the company's network contract with Express Scripts (Nasdaq: ESRX).

Raymond James now rates Walgreen shares a Market Perform, down from Outperform previously.

The stock last traded at $33.88, down nearly 6 percent from Monday's closing price.

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

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