Report
Vishnu Lekraj
EUR 101.80 For Business Accounts Only

Walgreens is seeking to bolster its sales with nonpharmaceutical products.

On Oct. 26, several media outlets reported that CVS was in talks to acquire Aetna. If these reports are correct, we believe it will largely be an operational positive for both firms despite some concerns. However, from a valuation perspective, we continue to see strong upside to CVS with the market underappreciating its well-positioned PBM business, but we view Aetna as overvalued because of excessive growth expectations. With that said, we are keeping our $109 fair value estimate and wide-moat ...
Underlying
Walgreens Boots Alliance Inc

Walgreens Boots Alliance is a holding company. Through its subsidiaries, the company is engaged in retail and wholesale pharmacy. The company's operations are organized into three divisions, which are also its reportable segments: Retail Pharmacy USA; Retail Pharmacy International; and Pharmaceutical Wholesale. The Retail Pharmacy USA division has pharmacy-led health and beauty retail offerings. The Retail Pharmacy International division has pharmacy-led health and beauty retail businesses. The Pharmaceutical Wholesale division, which mainly operates under the Alliance Healthcare brand, supplies medicines, other healthcare products and related services to pharmacies, doctors, health centers and hospitals.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Vishnu Lekraj

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