J.P. Morgan Maintains Neutral Rating on Walgreen

According to J.P. Morgan, Walgreen Company

Neutral rating is maintained. J.P. Morgan said that Walgreens reported disappointing 1Q12 results, with EPS of $0.63 coming in below its $0.70 estimate and Bloomberg consensus of $0.67. “As such, we are cutting our estimates going forward to reflect the loss of a significant majority of the ESRX scripts. We maintain our Neutral rating on the shares given the overhang and the potential for a significant earnings hit related to this dispute.” Walgreen Company closed yesterday at $33.37.