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.
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