Morgan Stanley lowered the firm’s price target on Walgreens Boots Alliance to $20 from $21 and keeps an Underweight rating on the shares. The firm says it is somewhat surprised the stock held up on the latest mixed print and reduced EPS guide on a lingering lackluster retail environment, but admittedly expectations weren’t overly high heading into the print. Morgan Stanley argues the same debate remains around visibility on the turnaround.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WBA:
- Walgreens Boots Alliance CEO: We’re focused on improving front end of the store
- Walgreens Announces Executive Leadership Transition and Consultancy
- Unusually active option classes on open March 28th
- WBA Earnings: Walgreens Tanks on Narrowed Outlook
- Options Volatility and Implied Earnings Moves Today, March 28, 2024