Walgreen Feels Wal-Mart Pressure; Maintaining Hold - Steven Ralston (Zacks.com)

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Walgreen Feels Wal-Mart Pressure; Maintaining Hold
May 06, 2008 07:08 PM UTC

Steven Ralston (Zacks.com)

Return	Risk
+47.33%	HIGH

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Symbol	Sentiment	Start	Return	Closed
WAG		05/06/08	+14.40%	--

4/16 - "While maintaining a pristine balance sheet, management continues Walgreen's (WAG) new store expansion strategy. However, beginning in 2006, management began implementing a more aggressive strategy that includes acquisitions...In addition, pharmacy profits are being pressured due to lower reimbursements on some generic drugs and additional pricing pressure from Wal-Mart (WMT), which has entered the retail generic marketplace."

"The Hold rating on Walgreen Company is maintained. Walgreen's is currently selling at 17.0 times trailing 12-month EPS...The target price of $38.75 is based on an 18.5 P/E on trailing 12-month earnings."

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