Cowen Downgrades Walgreens Boosts Alliance (WBA) to Market Perform

Cowen downgraded Walgreens Boosts Alliance (NASDAQ: WBA) from Outperform to Market Perform with a price target of $71.00 (from $77.00).

Analyst Charles Rhyee comments "We're downgrading WBA to Market Perform, as we view it as poorly positioned in the move toward value-based care. We increasingly believe ownership (CVS acq. of AET) rather than partnership (WBA's open health hub) is necessary to realize the benefits of cost trend improvements. Without such, we see WBA potentially marginalized as more of a distribution channel and at greater risk to disruption."

For an analyst ratings summary and ratings history on Walgreens Boosts Alliance click here. For more ratings news on Walgreens Boosts Alliance click here.

Shares of Walgreens Boosts Alliance closed at $64.98 yesterday.

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