How Much Lower Can Walgreens Boots Alliance Stock Go?
Walgreens Boots Alliance (NASDAQ: WBA) has been delivering ugly results to its shareholders for years. But in 2023, things have gone from bad to worse. It's down by a mammoth 43% year to date, and there seems to be no end in sight to the tailspin. There's no dip here -- investors who buy the stock are trying to catch a falling knife. Even in just the past month, shares of the pharmacy chain operator are down 16%.
How much worse can things get for shareholders, and would there be a point at which the stock was cheap enough that it would be a good buy?
The consensus analyst price target for Walgreens is $35.69. That would suggest a 70% upside over the next 12 months for the healthcare stock compared to where it trades now. But before you pull the trigger based on Wall Street's projections, keep in mind that analysts often adjust their price targets as new information and earnings numbers come out. And by and large, analysts have been lowering their price targets for this stock. A year ago, the consensus price target was nearly $46.
Source Fool.com
