Walgreen Upgraded to “Overweight” by Morgan Stanley (WAG)
Walgreen (NYSE:WAG) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, TheFlyOnTheWall.com reports. The firm currently has a $70.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 26.08% from the company’s current price.
A number of other firms have also recently commented on WAG. Analysts at UBS AG raised their price target on shares of Walgreen (NYSE:WAG) from $56.00 to $62.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of Walgreen (NYSE:WAG) in a research note to investors on Friday, September 13th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Walgreen (NYSE:WAG) from a “buy” rating to a “conviction-buy” rating in a research note to investors on Thursday, September 12th. They now have a $60.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.73.
Walgreen (NYSE:WAG) opened at 55.52 on Monday. Walgreen has a 1-year low of $31.88 and a 1-year high of $56.26. The stock has a 50-day moving average of $50.44 and a 200-day moving average of $48.50. The company has a market cap of $52.467 billion and a price-to-earnings ratio of 24.29.
Walgreen (NYSE:WAG) last announced its earnings results 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.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates the drugstore chain in the United States.
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