HSBC Downgrades Walgreens Boots Alliance to Reduce, Lowers Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Daniela Bretthauer downgraded Walgreens Boots Alliance (WBA) from Hold to Reduce and lowered the price target from $27 to $20, indicating a bearish outlook on the stock.
February 20, 2024 | 4:02 pm
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HSBC downgraded Walgreens Boots Alliance to Reduce and lowered the price target to $20, suggesting a negative outlook.
The downgrade from Hold to Reduce by a major financial institution like HSBC, accompanied by a significant reduction in the price target, suggests a strong bearish sentiment towards WBA. This is likely due to concerns about the company's future performance, which could negatively impact investor confidence and lead to a decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100