Walgreens Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Walgreens Boots Alliance Inc (NASDAQ:WBA) reported weaker-than-expected earnings for its third quarter and lowered its FY23 adjusted EPS guidance to $4.00-$4.05 from the previous $4.45 - $4.65. This led to a 9.3% fall in Walgreens shares to close at $28.64 on Tuesday. Following the earnings announcement, Deutsche Bank, Credit Suisse, Barclays, and JP Morgan all lowered their price targets on Walgreens.
June 28, 2023 | 12:57 pm
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Walgreens reported weaker Q3 earnings and lowered its FY23 EPS guidance, leading to a fall in its share price. Major banks also lowered their price targets on the company.
Walgreens' weaker-than-expected Q3 earnings and lowered FY23 EPS guidance are negative indicators for the company's financial health, which has led to a fall in its share price. Additionally, the lowering of price targets by major banks indicates a lack of confidence in the company's short-term performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100