UPDATE: Morgan Stanley Reiterates on Walgreen Company on Updated Forecasts Following 1QFY14 Results

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In a report published Monday, Morgan Stanley analyst Ricky R. Goldwasser reiterated an Overweight rating on Walgreen Company (NYSE: WAG), but removed the $70.00 price target.In the report, Morgan Stanley noted, “We are updating our WAG forecasts post 1QFY14 results, lowering our estimate to reflect a more muted gross margin trajectory than we previously modeled. However, key to the story and to our investment thesis, remains longer term realization of $1 billion in synergy and completion of Step 2 of the AB deal, which remains intact.”Walgreen Company closed on Friday at $59.04.

27% profits every 20 days?

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