Cowen Upgrades Walgreens Boosts Alliance (WBA) to Outperform
Cowen analyst Charles Rhyee upgraded Walgreens Boosts Alliance (NASDAQ: WBA) from Market Perform to Outperform with a price target of $54.00.
The analyst comments "We upgrade WBA to Outperform from Market Perform as WBA's transformation into a hc svcs business accelerates and op inc mix shifts away from US retail. Increased visibility on US HC strategy a pos+, and we see upside from addition of Summit Health. Execution remains key w/ our non-consensus call (1 buy out of 18 prior to today), but at 8.7x P/E w/ 4.8% div yld we see pos+ risk/reward. PT to $54."
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Shares of Walgreens Boosts Alliance closed at $40.59 yesterday.