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WBA

Walgreens Boots Alliance

$63.10

-0.63 (-0.99%)

09:51
07/10/18
07/10
09:51
07/10/18
09:51

Walgreens Boots Alliance downgraded to In Line at Evercore ISI on Amazon threat

As reported earlier, Evercore ISI analyst Ross Muken downgraded Walgreens Boots Alliance to In Line from Outperform, saying it is increasingly difficult to see the company outperforming after Amazon (AMZN) signalled its intention to enter the pharmacy business with the acquisition of PillPack. Muken adds that the market now has sufficient amount of information to worry about the company's long-term margins, and its "current wall of worry is simply too high to climb" . Muken still raised his price target on Walgreens to $67 from $64.

WBA Walgreens Boots Alliance
$63.10

-0.63 (-0.99%)

07/02/18
LEHM
07/02/18
NO CHANGE
LEHM
Equal Weight
Express Scripts most exposed to mail order market disruption, says Barclays
Barclays analyst Steve Valiquette believes Express Scripts (ESRX) is most exposed to Amazon's (AMZN) acquisition of PillPack. The analyst estimates Express Scripts has 35%-40% share of the U.S. prescription mail order market. The mail order prescription market is the most immediate area for possible disruption from Amazon/PillPack given the nature of PillPack's business and Amazon's existing mail-order logistical infrastructure, Valiquette tells investors in a research note. The analyst assumes PillPack captures 1% share of the U.S. mail-order Rx market in 2019, and improves its market share further by 1% each year afterwards. Valiquette calculates a "hypothetical" 13c negative earnings per share impact for Express Scripts in 2019. He believes the negative earnings impact could reach 45c by 2021, but thinks Express Scripts could undertake expense cuts to offset some of this. For Walgreens Boots Alliance (WBA), the analyst calculates a negative earnings per share impact of 15c in 2020, or 2% of his current estimate assuming no additional cost-cutting. Valiquette has Equal Weight ratings on both Express Scripts and Walgreens.
07/09/18
SBSH
07/09/18
DOWNGRADE
Target $69
SBSH
Neutral
Walgreens Boots Alliance downgraded to Neutral from Buy at Citi
Citi analyst Ralph Giacobbe downgraded Walgreens Boots Alliance (WBA) to Neutral after assuming coverage of the name. The analyst lowered his price target for the shares to $69 from $76. The analyst finds it difficult to argue for "meaningful multiple expansion" given headwinds from industry pressures and a dynamic and changing backdrop. Further, Amazon's (AMZN) recent acquisition of PillPack reignites "further competitive fears," Giacobbe tells investors in a research note.
07/09/18
07/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) downgraded to Hold from Buy at Jefferies with analyst Kevin Grundy saying slowing market growth, volatility in emerging markets, U.S. retail difficulties, the stronger U.S. dollar and "pricing challenges" should drive estimates lower. 2. SeaWorld (SEAS) and Six Flags (SIX) were downgraded to Market Perform from Outperform at Wells Fargo. 3. Walgreens Boots Alliance (WBA) downgraded to Neutral from Buy at Citi with analyst Ralph Giacobbe saying he finds it difficult to argue for "meaningful multiple expansion" given headwinds from industry pressures and a dynamic and changing backdrop. 4. Flowers Foods (FLO) downgraded to Hold from Buy at Vertical Group. 5. Wayfair (W) downgraded to Market Perform from Outperform with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/10/18
EVER
07/10/18
DOWNGRADE
EVER
In Line
Walgreens Boots Alliance downgraded to In Line from Outperform at Evercore ISI

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