Walgreens Boots Alliance price target raised to $10 from $7.50 at Evercore ISI

Evercore ISI analyst Elizabeth Anderson raised the firm’s price target on Walgreens Boots Alliance to $10 from $7.50 and keeps an In Line rating on the shares. The firm notes Walgreens presented its long-awaited FY25 guidance today, putting out a reasonable range for the business, despite all of the moving pieces. Evercore says that while it never likes to see the core AOI of a business halve year-over-year, the guidance range was in line with its expectations and takes into account a reasonable view of reimbursement, year-over-year headwinds, and growth. Now the focus turns to execution, where the firm sees store closures and working capital improvements as likely under a bit of an investor microscope until a cadence for these changes settles in.