UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Walgreen Company Ahead of 1QFY14 Earnings Report

In a report published Wednesday, Morgan Stanley analyst Ricky R. Goldwasser reiterated an Overweight rating on Walgreen Company WAG, but removed the $70.00 price target. In the report, Morgan Stanley noted, “WAG reports 1QFY14 earnings on Friday. Based on our EPS crosswalk, we model EPS for the quarter at $0.69. With shares down 7% since 11/22, underperforming the S&P 500 by 570 bps, we think sentiment already reflects the potential softer qtr.” Walgreen Company closed on Tuesday at $56.25.