Rite Aid Stock Still Can't Get Any Respect

Just when it seems as if things finally have nowhere else to go but up for Rite Aid (NYSE: RAD) investors, another Wall Street pro waxes unenthusiastically about the market laggard. Andrew Wolf at Loop Capital initiated coverage of the reeling drugstore chain with a Hold rating.

Wolf feels that the unraveling of its deal to be acquired by Walgreens Boots Alliance (NASDAQ: WBA), and the subsequently reworked deal to sell just some of its stores to Walgreens finds Rite Aid in a position where it has to start its turnaround efforts from scratch. Absent intermediate-term earnings visibility, he's not comfortable recommending the stock. Wolf is setting a price target of $2.50, which is a penny shy of where it closed on Monday.

If you're a risk tolerant investor willing to take a chance on Rite Aid you're probably not doing it for the benefit of just marching in place at the same price point.

Source: Fool.com