Cowen Upgrades Walgreens Boosts Alliance (WBA) to Outperform

Cowen analyst Charles Rhyee upgraded Walgreens Boosts Alliance (NASDAQ: WBA) from Market Perform to Outperform with a price target of $54.00.

The analyst comments "We upgrade WBA to Outperform from Market Perform as WBA's transformation into a hc svcs business accelerates and op inc mix shifts away from US retail. Increased visibility on US HC strategy a pos+, and we see upside from addition of Summit Health. Execution remains key w/ our non-consensus call (1 buy out of 18 prior to today), but at 8.7x P/E w/ 4.8% div yld we see pos+ risk/reward. PT to $54."

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 $40.59 yesterday.

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