Walgreens Boots Alliance Inc

WBA: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$95.00	Knlfl	Wpbp

Walgreens Increases Full-Year Sales Guidance; Maintaining $48 FVE

Julie Utterback ,

Jan 5, 2023

No-moat Walgreens Boots Alliance reported solid 2023 first-quarter results with sales and EPS mainly in line with our expectations on an adjusted basis. After slight adjustments to our full-year outlook, our assumptions remain in line with guidance, and we are maintaining our $48 fair value estimate. Shares appear undervalued.

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