Barclays analyst Stephanie Davis expects Walgreens Boots Alliance’s (WBA) liquidity concerns to persist after the company sold $160M of BrightSpring Health (BTSG) shares to KKR and paid $107M to resolve alleged False Claims Act violations. The cash inflow “represents a helpful offset” to Justice Department news, the analyst tells investors in a research note. The firm still believes liquidity concerns around Walgreens are likely to persist, supporting its Underweight rating and $7 price target.
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Read More on WBA:
- KKR to purchase 11.62M shares of BrightSpring Health from Walgreens
- Walgreens pays $106.8M to resolve False Claims Act allegations
- Walgreens Boots Alliance price target lowered to $16 from $22 at TD Cowen
- Walgreens Stock (WBA) Plummets to a Multi-Decade Low, Leaving Investors Wondering
- Walgreens Boots Alliance price target lowered to $7.50 from $11 at BofA
