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WBA

Walgreens Boots Alliance

$70.91

-1.66 (-2.29%)

, RAD

Rite Aid

$1.05

-0.065 (-5.86%)

08:27
10/12/18
10/12
08:27
10/12/18
08:27

Walgreens Boots Alliance price target raised to $75 from $66 at SunTrust

SunTrust analyst David MacDonald raised his price target on Walgreens Boots Alliance (WBA) to $75 after its Q4 earnings beat and FY19 guidance yesterday. The analyst says the results were marked by "solid U.S. pharmacy performance" in spite of the ongoing reimbursement and generic headwinds. MacDonald also keeps his Hold rating, adding that while the company's cash flow remains "robust" and the integration of Rite Aid (RAD) is still on track, he is concerned about the challenging environment and ongoing degradation in gross margins.

WBA

Walgreens Boots Alliance

$70.91

-1.66 (-2.29%)

RAD

Rite Aid

$1.05

-0.065 (-5.86%)

WBA Walgreens Boots Alliance
$70.91

-1.66 (-2.29%)

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".
10/12/18
LOOP
10/12/18
NO CHANGE
Target $82
LOOP
Buy
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.
RAD Rite Aid
$1.05

-0.065 (-5.86%)

09/06/18
GSCO
09/06/18
INITIATION
Target $1
GSCO
Sell
Rite Aid reinstated with a Sell at Goldman Sachs
Goldman Sachs analyst Robert Jones reinstated Rite Aid (RAD) with a Sell and $1 price target following the merger termination with Albertsons. Jones said the now standalone company lacks necessary scale to effectively compete and negotiate with healthcare supply chain players.
09/06/18
09/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Rite Aid (RAD) reinstated with a Sell at Goldman Sachs. 2. Parker-Hannifin (PH) initiated with an Overweight at Barclays. 3. iRhythm (IRTC) initiated with a Buy at Chardan. 4. Sarepta (SRPT) initiated with an Outperform at Credit Suisse. 5. Xperi (XPER) initiated with a Buy at National Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/18
LOOP
09/28/18
NO CHANGE
Target $1.35
LOOP
Hold
Rite Aid price target lowered to $1.35 at Loop Capital on Albertsons deal
Loop Capital analyst Andrew Wolf lowered his price target on Rite Aid to $1.35 from $1.75 and kept his Hold rating after its Q2 results, saying that while the Pharmacy Services segment showed improved sales profitability, this was offset by lower profitability in Retail Pharmacy. The analyst added that the discount on the Rite Aid stock relative to the broader pharmacy group is "appropriate" given its "high debt leverage and subscale operations". Wolf further notes that the board's caving to shareholder pressure to cancel the Albertsons deal was a mistake directly linked to the 28% decline in the stock price since August 8th.

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