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Walgreen Co. Message Board

  • wag_bag_holder wag_bag_holder Jan 28, 2008 10:34 AM Flag

    I know you put them up to this Yank!!! Read and laugh..WAG's outdated strategy

    Jan 28 (Reuters) - Citigroup downgraded Walgreen Co (WAG.N: Quote, Profile, Research)
    to "sell" from "hold" and cut its price target by $12 to $33,
    saying the company's outdated strategy was hurting returns and
    it would face earnings pressures over the next few quarters. In a research note dated Jan. 25, analyst Deborah Weinswig
    said the drug store chain's strategy of consolidating
    relatively smaller specialty pharmacies and other "adjacent"
    businesses would not deliver the synergies required. She said further downside to earnings shortfall is
    possible as operating expenses and high capital investment may
    exceed sales growth at least through fiscal year 2008. Walgreen is likely to face diminishing returns going
    forward as its reliance on organic store growth and
    prescription file buys may not produce historical
    mid-double-digit returns, Weinswig added. Shares of Walgreen fell 1 percent to $33.97 in early
    morning trade on the New York Stock Exchange.

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