JPMorgan lowered the firm’s price target on Walgreens Boots Alliance to $27 from $33 and keeps a Neutral rating on the shares ahead of the fiscal Q4 report. The analyst expects that given the continuing leadership changes, the fiscal 2024 guidance will likely come in sequentially down from fiscal 2024, “with no prizes awarded for setting an aggressive guide.” The firm sees the current stock price as reflective of significant uncertainty on the outlook for 2024 and new leadership team.
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