Jefferies Remains Bullish On Walgreen

According to Jefferies, Walgreen WAG were invited to management meetings. Jefferies said that it had the opportunity to host Walgreen management in KC and Houston and came away bullish. “While industry fundamentals should support a solid Rx business, the real opportunity appears to be in the front-end. Indeed, we believe a main focus of WAG will be to drive higher front-end sales in part through better merchandising and smart capital deployment, which, if successful, should lead to significant EPS upside.” Walgreen closed yesterday at $44.19.