Wednesday, February 1, 2017

Analyst: ‘Still chance of a reasonable outcome’ for Walgreens-Rite Aid deal

An Evercore ISI analyst maintained his “buy” rating on Walgreens Boots Alliance stock, stating that although its proposed deadline for a deal with Rite Aid has been delayed, “there is still a chance of a reasonable outcome for both parties.”
 
“On the [Walgereens] front, shareholders will be quite content to pursue this transaction (cost rationalization / de-leveraging exercise) despite the elevated divestiture count with accretion / PF leverage likely biased positively given the >20% haircut to deal value,” Evercore analyst Ross Muken wrote in a note.. . . more

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