Jefferies Upgrades Walgreen Co.

Jefferies analyst, Mark Wiltamuth upgraded shares of Walgreen Co. WAG from Hold to Buy and raised the price target from $69 to $87. Following the upgrade the company's shares are trading up over 2 percent in today's market session. In his note Wiltamuth said the management at Walgreen Co. is "contemplating aggressive change," citing cost cuts, possible tax inversion, a higher leverage, and more buybacks.