Drug store chain operator Walgreen Company ( WAG ) on Monday saw its price target lowered by analysts at Morgan Stanley.
The firm maintained its "Overweight" rating on WAG but cut its price target from $50 to $45. That new target suggests a smaller 22% upside to the stock's Friday closing price of $36.96.
Walgreen shares, which have fallen around 5% year-to-date, fell 41 cents, or -1.1%, in premarket trading Monday.
The Bottom Line
Shares of Walgreen Company ( WAG ) have a 2.44% dividend yield, based on Friday's closing stock price of $36.96. The stock has technical support in the $34-$36 price area. If the shares can firm up, we see overhead resistance around the $38-$40 price levels.
Walgreen Company ( WAG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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