Walgreen (WAG) April Trends Strong - FBR Capital

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.

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