Drugstore chain operator Walgreen Company (WAG) on Wednesday caught some positive commentary from analysts at UBS.
The firm maintained its “Buy” rating on WAG and lifted its price target to $39, suggesting a 12% upside to the stock’s Tuesday closing price of $34.80. UBS also raised its earnings estimates for the company, noting it expects a deal with ExpressScripts (ESRX) to happen in April or May. As a result, the analyst believes the risk/reward balance has skewed to the upside for the stock.
Walgreen shares, which have risen 5% year-to-date, were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Walgreen Company (WAG) have a 2.59% dividend yield, based on last night’s closing stock price of $34.80. The stock has technical support in the $31-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.
Walgreen Company (WAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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