Jefferies Maintains a 'Hold' on Walgreen (WAG); Goodbye TRICARE

Jefferies maintains a 'Hold' on Walgreen (NYSE: WAG) price target of $30.00.

Analyst, Scott A. Mushkin, said, "The available pool of returning scripts to WAG got significantly smaller as TRICARE announced that it would not bring WAG back into its network. According to WAG, this business amounted to roughly 18% of script volumes it processed for Express Scripts (Nasdaq: ESRX). This surprise announcement clearly questions how many of the ESRX scripts WAG used to process will actually return and it also appears to be a tacit endorsement for more limited networks."

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 $35.88 yesterday.

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