Walgreens Boots Alliance is said to be planning to capitalize on its recent merger, with analysts predicting that the retailer could be looking to gain further market share with the acquisition of a top US retailer, according to a report published in Investors Business Daily.

Any such deal would mirror the strategy of its US competitors – CVS Health acquired Target Pharmacies earlier this year.

Having spent the last year reorganising to realize the cost-saving benefits of the merger as well as boost cosmetics sales in a bid to offset pricing pressure on prescription drugs, Walgreen Boots Alliance bolstered its quarterly earnings and lifted its full-year guidance.

In July, the Deerfield-based company posted adjusted 3Q earnings per share pf US$1.02, up 23 percent from 3Q 2014. In the same period, revenue soared 48 percent to US$28.8 billion. Accordingly, the drugstore chain raised its projected earnings for FY2015 to US$3.8 a share, up 15 cents from initial expectations. The company has stated that it expects earnings in the region of US$4.25 to US$4.60 for fiscal 2016.