UPDATE: Deutsche Bank Initiates Coverage on Walgreen Company with Buy Rating, $73 PT as the Path Feels Clear

In a report published Thursday, Deutsche Bank analyst George Hill initiated coverage on

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.” Walgreen Company closed on Wednesday at $59.40.