Walgreens Boots Alliance price target lowered to $20 from $21 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Walgreens Boots Alliance to $20 from $21 and keeps an Underweight rating on the shares. The firm says it is somewhat surprised the stock held up on the latest mixed print and reduced EPS guide on a lingering lackluster retail environment, but admittedly expectations weren’t overly high heading into the print. Morgan Stanley argues the same debate remains around visibility on the turnaround.