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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WBA:
- Who Owns Walgreens Boots Alliance Stock (WBA)?
- Walgreens Boots Alliance Inc. Reports Earnings: Did it Beat Estimate Forecasts?
- WBA Earnings: Walgreens Crumbles on Lowered Outlook
- Walgreens Boots Alliance Fiscal Quarter Results Webcast
- Walgreens Boots Alliance sees achieving $1B projected cost savings in 2024