Mizuho Securities Reiterates Neutral Rating on Walgreens Boosts Alliance (WBA) Following 1Q Report
Mizuho Securities analyst Ann Hynes reiterated a Neutral rating and $59.00 price target on Walgreens Boosts Alliance (NASDAQ: WBA) following the company's 1Q earnings report. Adjusted EPS and adjusted operating income came in below estimates, but revenue was relatively in-line.
Adjusted EPS of $1.37 was below the consensus of $1.41. The miss is mainly driven by lower margins. Adjusted operating profit declined -16% y/y to $1.46bn. The large decline was dragged by both U.S. (-16% y/y) and international retail (-40% y/y) businesses.
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Shares of Walgreens Boosts Alliance closed at $55.83 yesterday.