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WBA

Walgreens Boots Alliance

$70.91

-1.66 (-2.29%)

06:24
10/12/18
10/12
06:24
10/12/18
06:24

Walgreens Boots Alliance price target raised to $82 at Loop Capital

Loop Capital analyst Andrew Wolf raised his price target on Walgreens Boots Alliance to $82 from $80 after its Q4 earnings beat and "constructive" outlook for FY19. The analyst notes however that earnings quality was "mixed", with upside coming from lower-than-modeled share count and tax rate along with curtailment of some of the employee benefits. Wolf also keeps his Buy, noting that the management's FY19 guidance was set "conservatively" with some optimism of normalizing gross margins.

WBA Walgreens Boots Alliance
$70.91

-1.66 (-2.29%)

07/23/18
07/23/18
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. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying the outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture." 2. Buckeye Partners (BPL) downgraded to Sell from Hold at SunTrust with analyst Tristan Richardson saying the latest negative action by Moody's was "quicker than expected" and may lead to a cut in the company's distribution. 3. Walgreens Boots Alliance (WBA) downgraded to Market Perform from Outperform at Cowen with analyst Charles Ryhee saying he views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. 4. General Electric (GE) downgraded to Hold from Buy at Argus with analyst John Eade saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. 5. Philip Morris (PM) downgraded to Hold from Buy at Societe Generale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/18
LOOP
09/10/18
NO CHANGE
Target $2
LOOP
Hold
Fred's sells pharmacy files to Walgreens for 'good valuation,' says Loop Capital
Loop Capital analyst Andrew Wolf noted that Fred's (FRED) announced that Walgreens (WBA) will acquire pharmacy prescription files and related pharmacy inventory of 185 Fred's stores located across 10 Southeastern states subject to regulatory approval. The deal values the prescript files at $165M, which the analyst views as a "good valuation" particularly since Walgreens will also acquire the associated pharmacy inventory for up to $36M. Wolf believes the strategic basis for Walgreens to pay this "solid" valuation for the prescription files from Fred's was fortified by its recent purchase of 1,932 Rite Aid (RAD) stores, many in the same Southeastern footprint as Fred's. The analyst reiterates a Hold rating and $2 price target on Fred's shares.
10/03/18
WELS
10/03/18
NO CHANGE
WELS
Outperform
Pharmacy business sale could be next step for Kroger, says Wells Fargo
Wells Fargo analyst Edward Kelly believes Kroger (KR) has taken aggressive steps recently to better position itself for the long-term, and a potential next step could be the sale of its pharmacy business. The analyst notes that the strategic argument is stronger than ever given structural changes in pharmacy, an underappreciated opportunity to unlock material value, and it seems highly aligned with management's more progressive approach. Recent news of a partnership with Walgreens Boots Alliance (WBA) on a store pilot should not be overlooked, he adds, as dialogue between the companies on ways to create value could foretell a more significant relationship. Kelly reiterates an Outperform rating on Kroger shares.
10/08/18
RBCM
10/08/18
NO CHANGE
Target $82
RBCM
Outperform
Walgreens Boots Alliance price target raised to $82 from $68 at RBC Capital
RBC Capital analyst George Hill raised his price target on Walgreens Boots Alliance to $82 and kept his Outperform rating ahead of its Q4 results and FY19 guidance this week, saying its outlook should come in better than expected thanks to the company's share repurchases. The analyst warns that he still has some concerns about Walgreens Boots' pricing in the U.S. after its commentary that followed the Q3 results but still expects the Medicare Part D preferred pharmacy network business to recover next year from the headwinds experienced in 2018. Hill also expects investors to focus on the company's organic script growth expectation as well as its "partnership strategy, pharmacy reimbursement trends, and drug pricing or regulatory changes".

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NTGN

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NCNA

NuCana

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LPTX

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INCY

Incyte

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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

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LOXO

Loxo Oncology

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MRTX

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ADAP

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RHHBY

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PFE

Pfizer

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MRK

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DVAX

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EXEL

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AGEN

Agenus

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OMED

OncoMed

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