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UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Walgreen Company

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In a report published Friday, Goldman Sachs Group reiterated its Buy rating on Walgreen Company (NYSE: WAG), and raised its price target from $42.00 to $44.00.

Goldman Sachs noted, “WAG's 1QFY13 results demonstrated solid underlying trends, supported by building reclamation of scripts lost during its impasse with ESRX, well-controlled expenses given the breadth of the firm's initiatives, and a spike in gross margin supported by generics. A change in the time lag with which WAG is now reporting its share of earnings from Alliance Boots created headline noise, reducing earnings, but that income should be reclaimed next year. But the pieces are in place for WAG to deliver solid results over the balance of its fiscal year, and we expect a strong December sales update given ongoing script reclamation and a recent pick-up in flu incidence.”

Walgreen Company closed on Thursday at $36.53.

Latest Ratings for WAG

DateFirmActionFromTo
Aug 2014Bank of AmericaUpgradesUnderperformNeutral
Aug 2014Cantor FitzgeraldUpgradesSellHold
Aug 2014JefferiesMaintainsBuy

View More Analyst Ratings for WAG
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Price Target Analyst Ratings

 

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