Jefferies Remains Bullish on Walgreen (WAG) After Meetings

Jefferies reiterated their Buy rating and $50 price target on Walgreen (NYSE: WAG) after meeting with management.

The firm states, "We had the opportunity to host Walgreen management in KC and Houston and came away bullish. While industry fundamentals should support a solid Rx business, the real opportunity appears to be in the front-end. Indeed, we believe a main focus of WAG will be to drive higher front-end sales in part through better merchandising and smart capital deployment, which, if successful, should lead to significant EPS upside."

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

Shares of Walgreen closed at $44.19 yesterday.

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