Walgreen (WAG) April Trends Strong - FBR Capital
Get Alerts WAG Hot Sheet
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 19
Join SI Premium – FREE
FBR Capital analyst Steven Halper commented on Walgreen (NYSE: WAG) April same store sales.
Halper noted, "Consolidated SSS rose 7.6%, above consensus' 5.3% estimate and our forecast of about 6%. Recall that April comps, primarily on the front end, were boosted by the timing of the Easter shift (Easter fell in April this year vs. March last year). For the combined March/April period, consolidated SSS grew 5.5%, appearing improved vs. the prior months when adjusting for the holiday impact. Indeed, we view the same-store sales performance positively. However, we believe WAG's long-term EBIT targets and opportunities presented by the Alliance Boots and AmerisoureBergen relationships and potential tax inversion strategies, remain the primary areas of investor focus."
The analyst maintained a Market Perform rating and price target of $68.00
For an analyst ratings summary and ratings history on Walgreen click here. For more ratings news on Walgreen click here.
Shares of Walgreen closed at $68.86 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Upgrades Macquarie Group Ltd. (MQG:AU) (MQBKY) to Overweight
- Wells Fargo Reiterates Overweight Rating on Amgen (AMGN)
- Loop Capital Starts Samsara Inc (IOT) at Buy, 'Play on AI, ML, & IoT Tech Themes in Asset Intensive Industries'
Create E-mail Alert Related Categories
Analyst Comments, Retail SalesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!