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Walgreens Boots Alliance Inc

WBA: XNAS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
$71.00CcbxLlqktxcm

Walgreens Earnings: Stock Drops From Steep Dividend Slash Despite Positive Results

No-moat Walgreens posted first-quarter results that were slightly ahead of our expectations. Despite these positive results, the stock was down midsingle digits Jan. 4, which we attribute to the slashed dividend. However, we are maintaining our fair value estimate of $33 per share, and we are maintaining our Standard Capital Allocation Rating on the firm, despite this disappointing move for dividend-focused investors.

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