Walgreen Now Covered by Jefferies Group (WAG)
Jefferies Group began coverage on shares of Walgreen (NYSE:WAG) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $62.00 price target on the stock. Jefferies Group’s target price indicates a potential upside of 12.34% from the stock’s previous close.
The analysts wrote, “Walgreens is in the midst of the biggest era of change in company history. After taking a 45% stake in Alliance Boots, and striking a 10-year drug distribution and joint sourcing pact with Amerisource Bergen, now the hard work begins on synergies and execution. As these deal wins are longer-term and we see some margin risk near-term as the company works to turn around negative traffic in the US, we initiate coverage of WAG shares with a Hold.”
Shares of Walgreen (NYSE:WAG) traded up 0.07% during mid-day trading on Monday, hitting $55.23. The stock had a trading volume of 433,750 shares. Walgreen has a one year low of $31.88 and a one year high of $57.41. The stock’s 50-day moving average is $52. and its 200-day moving average is $49.62. The company has a market cap of $52.231 billion and a P/E ratio of 21.56.
Walgreen (NYSE:WAG) last released its earnings data on Tuesday, October 1st. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.01. The company had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.95 billion. During the same quarter last year, the company posted $0.63 earnings per share. Walgreen’s revenue was up 5.1% compared to the same quarter last year.
A number of other analysts have also recently weighed in on WAG. Analysts at Wolfe Research upgraded shares of Walgreen from an “underperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, analysts at Raymond James raised their price target on shares of Walgreen from $55.00 to $62.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Walgreen from $45.00 to $55.00 in a research note to investors on Thursday, October 3rd. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. Walgreen has an average rating of “Buy” and an average price target of $58.74.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates the drugstore chain in the United States.
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