All the idiot analysts will do the about face now!! Inversion, which is highly unlikely, is the only thing holding this up, and if a market correction starts, a high flyer like WAG will get "whacked" real good....
You got to love Wall Street....Walgreens had a decent report but still missed, trades at a well above market P/E (forward a bit higher too) particularly for a defensive play and Jefferies ups their target by $18. I guess with the bigger and better helicopter Janet Yellen analysts will only downgrade stocks like RSH.
Don't underestimate these jokers I would bet their will be neutrals to outperforms. The misses were actually very slight especially the revenue and the in store numbers were positive. These guys would upgrade Radio Shack if you give them a reason.
I'm curious why you think an inversion is highly unlikely. Patriotism? Consumer reaction? I still think it's likely to happen. I suspect, that Stefano Pessina is a powerful force on the board of directors. He owns 8% of WAG and that number will grow when they buy the remaining 55% of Boots. He currently owns 18% of Alliance Boots. Unless the agreement requires him to divest some shares when Alliance Boots purchase is completed he could wind up owning almost 18% of WAG. I have no doubt he will be pushing for the inversion. Certainly he can't accomplish this alone. The other board members will have to be sold on the idea. It's a huge deal, and carries considerable risk. My feeling is the board members will find more reward than risk and move forward, but it can go either way.