Truist analyst David MacDonald lowered the firm’s price target on Walgreens Boots Alliance to $25 from $27 and keeps a Hold rating on the shares. The firm cites its more conservative margin assumptions for the company along with its recent Q1 results while trimming its FY24 EPS view by 8c to $3.28 and its its FY25 view by 31c to $3.88. Trends in overall pharmaceutical services look solid given the aging population, though Truist also sees headwinds in the retail business and believes that the challenging overall retail environment bears watching, the analyst tells investors in a research note.
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