Market Overview

UPDATE: Jefferies Initiates Coverage on Walgreen Company on Limited Near-Term Visibility

Related WAG
Top 4 Stocks In The Drug Stores Industry With The Highest Dividend Yield
Markets Continue To Rally Ahead Of Yellen's Speech At Jackson Hole
Gov't Pensions Make Big Bucks Off 'Corp Deserters' (Fox Business)

In a report published Tuesday, Jefferies analyst Mark Wiltamuth initiated coverage on Walgreen Company (NYSE: WAG) with a Hold rating and $62.00 price target.

In the report, Jefferies noted, “Walgreens is in the midst of the biggest era of change in company history. After taking a 45% stake in Alliance Boots, and striking a 10-year drug distribution and joint sourcing pact with Amerisource Bergen, now the hard work begins on synergies and execution. As these deal wins are longer-term and we see some margin risk near-term as the company works to turn around negative traffic in the US, we initiate coverage of WAG shares with a Hold.”

Walgreen Company closed on Monday at $55.19.

Posted-In: Jefferies Mark WiltamuthAnalyst Color Initiation Analyst Ratings

 

Related Articles (WAG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional