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UPDATE: Jefferies Upgrades Walgreen Company to Buy on Purchasing Synergies

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Jefferies raised its rating on Walgreen Company (NYSE: WAG) from Hold to Buy and increased its price target from $40 to $47.

Jefferies said, "We are upgrading WAG to Buy from Hold as our research continues to suggest that purchasing synergies are materializing faster than expected. In addition, the potential for higher script volumes (Flu/Med D/ObamaCare) could also drive better profitability. With valuation at the low-end of its range and at roughly a 2x P/E discount to CVS, investors could be rewarded with both EPS surprises and multiple expansion over the next 12 months."

Walgreen Company closed at $37.18 on Friday.

Latest Ratings for WAG

DateFirmActionFromTo
Oct 2014Deutsche BankMaintainsBuy
Oct 2014JP MorganMaintainsOverweight
Oct 2014FBR CapitalMaintainsMarket Perform

View More Analyst Ratings for WAG
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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