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Walgreens Boots Alliance Inc. Add to portfolio

NAS:WBA, Jul 16, 10:05 UTC

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Thursday, July 12


News

Walgreens CEO Pessina loses Wall Street's backing - Cahill - Crain's Chicago Business

WBA AMZN

The pharmacy chain's share price has tumbled 12 percent this year, driven by growing doubts that Pessina has the right strategy to counter a perceived threat from Amazon and meet fundamental industry challenges. How worried is Wall Street? Pessina's June 28 announcement of a $10 billion share repurchase plan failed to stem a 10 percent plunge in Walgreens shares after news broke the same day that Amazon had agreed to purchase online pharmacy PillPack. Since then six analysts have cut their ratings on Walgreens stock. Only 10 analysts now recommend buying Walgreens shares, while 16 have the equivalent of a "hold" rating on the stock. Even longtime fan Ross Muken at Evercore ISI pulled his "outperform" rating. Pessina has downplayed the Amazon move, telling analysts on Walgreens' third-quarter earnings call June 28 that "we are not particularly worried" and pointing out that "pharmacy work is much more complex than just delivering certain pills or certain packages." Asked if Amazon poses a significant threat, Gourlay says, "I don't think so,'' explaining that Walgreens already is working to improve supply chain efficiency and drug price transparency.

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Buy Walgreens (WBA) Stock Because It's Cheap & Amazon Fears Are Overblown?

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Amazon is set to acquire online and delivery pharmacy startup PillPack for $1 billion in cash, in a deal that is expected to close in the second half of 2018. Amazon does already sell its own private-brand, over-the-counter drugs, called Basic Care, selling 65 drugs at costs that were roughly 20% less than Walgreens and CVS. Yet, Amazon is far from overtaking the approximately $400 billion U.S. pharmaceutical industry. Shares of WBA are up 88% over the last 10 years, which falls below the S&P 500’s 128% climb. And over the last three years, Walgreens has seen its stock price tumble 31%, with a 14% decline in the last three months alone. Walgreens stock is also trading almost directly in line with its year-long low, which is its lowest earnings multiple over the last five years. Therefore investors should be able to say with some confidence that WBA appears rather cheap at its current level.

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Trump to Meet Lockheed, Mars and Walgreens at U.K. Palace Dinner

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Donald Trump will meet with business people from both sides of the Atlantic Ocean Thursday evening as his host Theresa May aims to impress the U.S. president with Blenheim Palace, the opulent 300-year-old birthplace of World War II leader Winston Churchill. Fresh from a NATO summit in Brussels in which he demanded other western nations double their defense contributions to 4 percent of gross domestic product, May has organized the formal dinner -- tuxedo and black tie a must -- to talk up trade prospects with the U.S. following Brexit next year. Walgreens Boots Alliance Inc, which owns British high-street pharmacy Boots, will also be at the dinner, alongside confectioners Mars Inc and Reckitt Benckiser Group Plc which manufactures cleaning products, according to a person familiar with the guest list.

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Wednesday, July 11


News

Walgreens: Why Evercore ISI Downgraded the Stock

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On July 10, Walgreens Boots Alliance (WBA) was downgraded to “in-line” from “outperform” by Ross Muken, an analyst at Evercore ISI, according to a report from CNBC. Walgreens fell 0.8% to $63.20 on July 10. Walgreens has fallen ~13% year-to-date.

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Walgreens, the Dow and the Amazon Effect

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Walgreens Boots Alliance Inc. ( WBA) has certainly seen its share of major news. The stock has replaced General Electric Co. ( GE) in the Dow Jones Industrial Average and gained some unfavorable investor attention due to the move by Amazon.com Inc. ( AMZN) into the pharmacy space. The company also operates one of the largest global pharmaceutical wholesale and distribution networks, with more than 390 centers that deliver to over 230,000 pharmacies and health centers each year.

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Tuesday, July 10


News

Walgreens Analyst Finally Dumps 'Spectacularly Wrong' Buy Call - Health Care News - Crain's Chicago Business

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Bloomberg. Walgreens Analyst Finally Dumps ‘Spectacularly Wrong’ Buy CallBy. July 10, 2018, 10:39 AM EDT. Evercore’s Ross Muken changes call after ‘painful experience’. In the past 12 months, Walgreens’s shares have slid 18 percent.

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Walgreens stock falls to pace Dow losers after Evercore ISI downgrades on too high wall of worry

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Walgreens' stock falls to pace Dow losers after Evercore ISI downgrades on 'too high' wall of worry. Shares of Walgreens Boots Alliance Inc. wba-1.01% dropped 0.5% in morning trade Tuesday, enough to pace the Dow Jones Industrial Average's djia+0.57% decliners, after Evercore ISI downgraded the drug store chain citing a "long litany" of potential headwinds. He said, "Typically I hate reactive downgrades," but in this case he struggled to find a coherent thesis on why Walgreens's stock should outperform after Amazon.com Inc. amzn+0.45% said it was buying online pharmacy PillPack. "The current wall of worry is simply too high to climb in our view, as [Amazon] risk joins drug pricing uncertainty, front end erosion, [European Union] fee pressure, and Brexit volatility," Muken wrote in a note to clients.

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Walgreens Analyst Owns Up to His Own Bad Call

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Evercore ISI analyst Ross Muken was the latter, by his own admission, with his lengthy support of Walgreens Boots Alliance. He finally threw in the towel today, downgrading the shares to the equivalent of a hold, after recommending investors buy the stock for the greater part of the last two years. The move ended “one of the more painful experiences I have endured in my fifteen-plus years as a sell-side analyst,” Muken wrote. In the past 12 months, shares of Walgreens have dropped 18 percent, propelled by a 10 percent nosedive two weeks ago after Amazon.com Inc. announced its purchase of online pharmacy PillPack, putting it in direct competition with Jeff Bezos’s megalith.

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Monday, July 09


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Walgreens Earns Best Place to Work for Disability Equality in 2018 Disability Equality Index

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“Walgreens is proud to foster a disability inclusive culture through two programs to train and hire people with disabilities in our stores and distribution centers, where our team members work side-by-side to perform the same jobs for the same pay,” said Carlos Cubia, vice president and global chief diversity officer of Walgreens Boots Alliance, Inc. “It’s an honor to be acknowledged by the Disability Equality Index for our commitment to a diverse and inclusive workforce that aligns with our purpose to champion the health and well-being of every community in America.”. Walgreens (walgreens.com), a provider of trusted care in communities since 1901, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (WBA), the first global pharmacy-led, health and wellbeing enterprise. Approximately 400 Walgreens stores offer Healthcare Clinic or other provider retail clinic services. View source version on businesswire.com: https://www.businesswire.com/news/home/20180709005549/en/.

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Friday, July 06


News

Walgreens Completes Investment In China's GuoDa

WBA

Following regulatory approvals, Walgreens Boots Alliance said on Thursday (July 5) that the company completed an agreement to acquire a 40 percent stake of Sinopharm Holding GuoDa Drug Store. Walgreens received the stake in the Chinese pharmacy chain for a capital increase of approximately $416 million, the company said in the announcement. “We believe GuoDa holds a strong position in the sector and, as a global pharmacy-led health and beauty enterprise, we are well-positioned to support its further growth ambition,” said Executive Vice Chairman and CEO Stefano Pessina in the announcement. “We have had a presence in China for around 10 years, initially through Alliance Boots, and we are excited about the opportunity to further invest in the country’s fast-growing retail pharmacy sector.”.

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