Walgreens Stock Rises as RBC Increases Price Target 20%
RBC Capital Markets raised the price target for drugstore chain Walgreens Boots Alliance (WBA) from $68 to $82 (or ~20%) on Monday, October 8. Analyst George Hill maintained an “outperform” recommendation for the company and said Walgreens was one of the best-positioned companies in the retail pharmacy space. Although Hill is still concerned about Walgreens’s pricing in the United States, he expects some improvement in the Medicare Part D preferred pharmacy network business next year.