Drug store chain operator Walgreen Company ( WAG ) on Friday caught some negative commentary from analysts at Jefferies & Co.
The firm said it lowered its price target on WAG to $34, suggesting zero upside to the stock's Thursday closing price of $33.92. Jefferies also maintained its "Hold" rating but lowered its earnings estimates for the company, citing continued uncertainty surrounding WAG's lack of contract with prescription benefits provider Express Scripts ( ESRX ).
Walgreen shares, which have fallen 13% year-to-date, were mostly flat in premarket trading Friday.
The Bottom Line
Shares of Walgreen Company ( WAG ) have a 2.65% dividend yield, based on last night's closing stock price of $33.50. The stock has technical support in the $27-$30 price area. If the shares can firm up, we see overhead resistance around the $35-$36 price levels.
Walgreen Company ( WAG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Created by Dividend.com