Truist analyst David MacDonald lowered the firm’s price target on Walgreens Boots Alliance to $13 from $20 and keeps a Hold rating on the shares after its Q3 earnings miss. The firm is citing the challenging retail environment and pharmacy headwinds, with FY24 guidance being lowered. While Walgreens’ International and U.S. Healthcare posted solid quarters, the company’s cash flow was shy of estimates, the analyst tells investors in a research note.
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