Jefferies Has Buy Rating On Walgreen's (WAG)

Jefferies & Co. has a Buy rating on shares of Walgreen's WAG.

In a note to clients, Jefferies writes, "We continue to believe Duane Reade's
new stores are the best drug-retailing format in North America, suggesting very positive merchandising capabilities as WAG combines its own in-store execution and CCR program with the many positives from Duane Reade. These efforts should be further strengthened by Walgreens' (WAG, $41.17, Buy) appointment of Joseph Magnacca to President of Daily Living Products and Solutions last week, overseeing the company's merchandising and marketing efforts. Mr Magnacca, who has been President of Duane Reade since the acquisition and has been leading the integration, has significant merchandising expertise and we believe allows the opportunity to further leverage the best practices and formats of Duane Reade to WAG's roughly 1,000 urban locations and beyond..."

Shares of WAG gained 56 cents yesterday to close at $41.17, a gain of 1.4%.