Walgreens Boosts Alliance (WBA) Highlighted as a Catalyst Buy Call at Deutsche Bank
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Deutsche Bank analyst George Hill reiterated $49.00 price target on Walgreens Boosts Alliance (NASDAQ: WBA) noting the current environment represents the near to medium term performance trough for the retail pharmacies.
The analyst maintained a Hold rating but noted the stock is a short term Buy, stating "COVID crisis has severely disrupted the retail pharmacy businesses, as evidenced by RAD’s preannouncement related to a weak cough and cold season in its F4Q and lower acute care Rx volumes in C4Q. However, we believe the COVID vaccine presents both a near term and longer term positive opportunity as the bolus of vaccinations
near term should drive positive earnings surprise throughout the balance of C2021, and the nature of the variant virus may mean many people in the future may receive a COVID vaccine the way they now receive a flu vaccine."
Shares of Walgreens Boosts Alliance closed at $50.79 yesterday.
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