UPDATE: Barclays Reiterates Walgreen at Neutral on November Sales Preview
Barclays maintained its Neutral rating and $39 price target on Walgreen (NYSE: WAG) as the company looks to report November sales on December 5th.
Barclays noted, "There are no signs yet that WAG is winning back Express Scripts customers, though the company has been offering coupons to some patients to get them to transfer scripts back. We believe it is still early, though, and WAG no longer quantifies the impact of the dispute, so we will never know exactly how much business has returned. On its 3Q12 earnings call on November 6, CVS increased its likely retention of ESRX customers who had shopped at WAG to 60% from 50% prior, with some of the difference being the retention of members of the Department of Defense plan, Tricare; Tricare is not putting WAG back into its pharmacy network."
Walgreen closed at $33.03 on Tuesday.
Latest Ratings for WAG
|Dec 2014||JP Morgan||Maintains||Overweight|
|Dec 2014||SunTrust Robinson Humphrey||Downgrades||Buy||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.