Why Walgreens Boots Alliance Stock Weakened on Wednesday
Pharmacy chain operator Walgreens Boots Alliance (NASDAQ: WBA) might have been tempted to reach for a bottle of its own painkillers on Wednesday. The company's stock fell by over 3%, a steeper tumble than the 1.7% suffered by the S&P 500 index, on a pair of minor analyst price target cuts.
Both modifications were extremely modest -- UBS prognosticator Kevin Caliendo trimmed $1 from his Walgreens target to land at $39 per share. His peer, Elizabeth Anderson at Evercore ISI, also lowered hers by the same amount; her new level is $35 per share. Both maintained their equivalents of a hold recommendation.
It wasn't immediately clear why either analyst made their adjustment to Walgreens' price target. These weren't exactly surprising moves, though, as the company is less than a week away from its latest earnings release.
Source Fool.com
