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Walgreens In the Green on Q2 Beat
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Walgreens In the Green on Q2 Beat

Shares of pharmacy and retail products provider Walgreens Boots Alliance (NASDAQ:WBA) are in the green today after the company announced better-than-expected second-quarter numbers.

Revenue rose 7.6% year-over-year to $34.9 billion, outperforming expectations by $1.34 billion. EPS at $1.16 too came in ahead of estimates by $0.06. Despite the beat, the company’s bottom line dropped nearly 26% during the quarter owing to tepid COVID-19 vaccines and testing volumes.

Looking ahead, for 2023, WBA expects EPS to hover between $4.45 and $4.65. The company is banking on the acquisition of CareCentrix and VillageMD’s acquisition of Summit Health to bring in the next phase of growth.

Overall, Wall Street has a consensus price target of $40.27 on WBA, implying a 22.25% potential upside in the stock. That’s after an 11.4% slide in the share price so far in 2023.

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