Walgreen Rating Increased to Conviction-Buy at Goldman Sachs Group Inc. (WAG)
Walgreen (NYSE:WAG) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Shares of Walgreen (NYSE:WAG) opened at 50.75 on Thursday. Walgreen has a 52 week low of $31.88 and a 52 week high of $51.62. The stock has a 50-day moving average of $49.63 and a 200-day moving average of $47.86. The company has a market cap of $47.959 billion and a P/E ratio of 22.20.
Walgreen (NYSE:WAG) last released its earnings data on Tuesday, June 25th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.91 by $0.06. The company had revenue of $18.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Walgreen will post $3.12 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of Walgreen (NYSE:WAG) from $55.00 to $60.00 in a research note to investors on Friday, September 6th. They now have a “buy” rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Walgreen (NYSE:WAG) from $54.00 to $57.00 in a research note to investors on Friday, September 6th. Finally, analysts at Citigroup Inc. raised their price target on shares of Walgreen (NYSE:WAG) from $52.00 to $57.00 in a research note to investors on Friday, September 6th. They now have a “buy” rating on the stock.
One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $53.62.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates the drugstore chain in the United States.
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