UPDATE: Walgreen (WAG) Valuation Full, Cantor Fitzgerald Cuts to Hold
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Price: $59.87 +1.32%
Rating Summary:
38 Buy, 12 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
38 Buy, 12 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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(Updated - June 24, 2013 7:51 AM EDT)
Cantor Fitzgerald downgraded Walgreen (NYSE: WAG) from Buy to Hold with a price target of $49.00 (unchanged). Analyst Ajay Jain thinks valuation is full.
"We recently took up the price target following better-than-expected 2Q:13 results and based on the positive long-term implications of the announcement with AmeriSource Bergen, with whom Walgreen has a 10-year comprehensive supply agreement. We expect that sales/earnings comparisons will continue to be favorable over the balance of FY:13. While Walgreen is set to report 3Q results on Tuesday, 6/25, the rationale for our rating is not earnings related. Our main issue at this time is that the recent trading range does not warrant enough upside to remain constructive on the stock at this time," said Ajay.
For an analyst ratings summary and ratings history on Walgreen (NYSE: WAG) click here. For more ratings news on Wal-Mart click here.
Shares of Wal-Mart closed at $73.51 yesterday.
Cantor Fitzgerald downgraded Walgreen (NYSE: WAG) from Buy to Hold with a price target of $49.00 (unchanged). Analyst Ajay Jain thinks valuation is full.
"We recently took up the price target following better-than-expected 2Q:13 results and based on the positive long-term implications of the announcement with AmeriSource Bergen, with whom Walgreen has a 10-year comprehensive supply agreement. We expect that sales/earnings comparisons will continue to be favorable over the balance of FY:13. While Walgreen is set to report 3Q results on Tuesday, 6/25, the rationale for our rating is not earnings related. Our main issue at this time is that the recent trading range does not warrant enough upside to remain constructive on the stock at this time," said Ajay.
For an analyst ratings summary and ratings history on Walgreen (NYSE: WAG) click here. For more ratings news on Wal-Mart click here.
Shares of Wal-Mart closed at $73.51 yesterday.
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