Walgreens Boots Alliance price target lowered to $37 from $39 at UBS

UBS analyst Kevin Caliendo lowered the firm’s price target on Walgreens Boots Alliance to $37 from $39 and keeps a Neutral rating on the shares. The firm’s biggest takeaway from Walgreens’ print was the ambiguity around the company’s earnings in VillageMD/Summit, and found management’s explanation of Summit’s financials not accounting for the annualized impact of Westmed and NJU lacked detail, the analyst tells investors in a research note. UBS believes the company’s EPS guidance for the year is achievable, but needs to see improved free cash flow and transparent organic growth in the Healthcare segment before becoming more constructive on the stock.