Morgan Stanley Maintains Walgreens Boots Alliance(WBA.US) With Sell Rating, Cuts Target Price to $7
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Walgreens Boots Alliance Faces Challenging US Consumer Environment, Morgan Stanley Says
Morgan Stanley lowers Walgreens target price to $7.
Morgan Stanley has lowered the target price of the chain drugstore operator Walgreens Boots Alliance (WBA.O) from $9 to $7, citing the upcoming US election and a sluggish trend in consumer retail. Morgan Stanley believes that in addition to a decline in retail pharmacy sales over the next three years, macroeconomic headwinds remain a problem for Walgreens Boots Alliance.
