Walgreens Boots Alliance is set to join the Dow Jones Industrial Average on June 28, according to a report published by Nasdaq. The drugstore chain replaces General Electric highlighting ‘the growing importance of the consumer economy,’ as Nasdaq’s analysts explain.
Walgreens Boots Alliance stock rallied on the news after falling 9 percent on the year, trading at US$15.71 below its 12-month high. “Overall technical indicators for WBA are bearish with a weak upward trend,” says Nasdaq.
Of the 18 analysts who cover the stock, 8 consider it a ‘strong buy’, 2 rank it a ‘buy’ and the remaining 8 score it as ‘hold’. The stock has a score of 54 from InvestorsObserver’s Stock Score Report.