Walgreens Boots Alliance price target lowered to $9 from $13 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Walgreens Boots Alliance to $9 from $13 and keeps an Underweight rating on the shares. While expectations were not overly high, Walgreens lowered its FY24 EPS guidance and there is some debate around visibility on the turnaround and Morgan Stanley sees further downside from here, the analyst tells investors in a research note.