WBA - Walgreens Q2 Dow Exit And Bet Against Wall Street
2024-03-15 12:15:22 ET
Summary
- Sentiment surrounding Walgreens Boots Alliance has reached a negative extreme among both Main Street and Wall Street analysts.
- The stock's exit from the Dow may lead to temporary downsides, but long-term success depends on fundamentals and strategy.
- Despite the expected earnings drop in Q2, the stock's compressed P/E ratio and projected profit recovery make it an interesting investment opportunity.
Sentiment reached negative extreme
The sentiment surrounding Walgreens Boots Alliance ( WBA ) has now reached an extreme in my view - and for many good reasons. As seen in the next chart, neither Main Street (approximated by Seeking Alpha writers) nor Wall Street analysts like the stock. To wit, among the 10 Seeking Alpha analyses published on the ticker in the past 90 days, no one rated it as a strong buy, and it received an average rating of 3.44. On Wall Street's side, 20 analysts covered the stock in the past 90 days. Only one rated the stock as a strong buy and the overall rating is even lower at 2.9....
Walgreens Q2, Dow Exit, And Bet Against Wall Street