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Walgreens Analyst Finally Dumps ‘Spectacularly Wrong’ Buy Call

  • Evercore’s Ross Muken changes call after ‘painful experience’
  • In the past 12 months, Walgreens’s shares have slid 18 percent
A Walgreens Boots Alliance Inc. Store Ahead Of Earnings Figures
Photographer: David Paul Morris/Bloomberg

There’s wrong, and then there’s "spectacularly wrong."

Evercore ISI analyst Ross Muken was the latter, by his own admission, with his lengthy support of Walgreens Boots Alliance. He finally threw in the towel today, downgrading the shares to the equivalent of a hold, after recommending investors buy the stock for the greater part of the last two years.