Evercore ISI analyst Elizabeth Anderson lowered the firm’s price target on Walgreens Boots Alliance to $10 from $17 and keeps an In Line rating on the shares. The company’s “tough” earnings print illustrated the volatility of the headwinds that continue to face retail pharmacy as branded profitability, generic conversions and prescription growth continue to create challenges in the core pharmacy business, the analyst tells investors in a research note. The firm reduced estimates to more conservatively account for the additional headwinds in retail pharmacy without the benefit of a macro recovery or a business turnaround.
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