UPDATE: Deutsche Bank Initiates Coverage on Walgreens as the Path Feels Clear
In a report published Thursday, Deutsche Bank analyst George Hill initiated coverage on Walgreen Company (NYSE: WAG) with a Buy rating and $73.00 price target.
In the report, Deutsche Bank noted, “We are initiating coverage of WAG shares with a Buy Rating and $73 price target. Walgreens is in the early stages of building the first global pharmacy retailing and supply chain company (then followed quickly by McKesson). Should the company come close to achieving its targets, helped by the integration of AllianceBoots and its partnership with AmerisourceBergen, a path to $73 seems achievable as investors get more comfortable with its longer term targets.”
Walgreens closed on Wednesday at $59.40.
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