Walgreens Boots Alliance Inc (WBA)

[big-yank]

My target buy-in is $31.50 but only after/if I am satisfied with the outlook for the merged entity as projected in the C/C. I will not take a position of over 5k shares, to start.

I agreed with Citi's "sell" recommendation but I think Weinswig's $27 target is now just too extreme to be credible unless there is more bad news to come, which I doubt. I think her # included the potential, upcoming loss of MHS Rx volume which actually exceeded ESRX's, which is now off the table (unless there is other "hidden" PR like the Tri-Care surprise). Had WAG & ESRX not settled and MHS volume was further lost, I think her number was only a tad lower than I would have projected. Integration of WAG and A/B is not likely to be easy, and as Weinswig pointed out, Walgreens has zero experience navigating a global merger this large and this complex.

I hope you are correct with your prediction on Wasson's possible exit; just remember that there are two, other members of The Liar's Poker Team... Wade and Kermit.

Nice post from you. Thanks!