Walgreens Boots Alliance price target lowered to $20 from $30 at JPMorgan

JPMorgan lowered the firm’s price target on Walgreens Boots Alliance to $20 from $30 and keeps an Overweight rating on the shares. The firm is adjusting estimates following last week’s earnings to reflect “the persistent headwinds identified by management” continuing into FY25, the analyst tells investors. While the near-term results have been challenging, the firm continues to view the new management team as “credible and executing the necessary steps to manage through industry-level headwinds,” leading to an Overweight rating, the analyst added.