Walgreen Company (WAG) - Bull of the Day

Walgreen Co. (WAG) reported an EPS of $0.62 in the first quarter of fiscal 2011, well above both the Zacks Consensus Estimate of $0.54 and the year-ago quarter's $0.49.

The company's strategy of slow-paced store expansion along with operating expertise has made it a leader in the retail drug store industry. We are also encouraged by the company's progress in customer-centric retailing (CCR) rollout and cost-saving initiatives. Meanwhile, the company is trying to grab a share of the growing US immunization market.

Although Walgreen has been affected due to high unemployment and lower discretionary spending, we expect the situation to improve gradually as the economy recovers. Subsequent to first quarter results, we have raised estimates for both revenues and earnings. Given these factors, we upgrade the stock to Outperform.
 
WALGREEN CO (WAG): Free Stock Analysis Report
 
Zacks Investment Research