Dow Jones Newswires | Shares of drug-store chain Walgreen Co.
fell 5.4 percent to $32.93 in recent action Thursday, hit by a
downgrade from Credit Suisse, which lowered its stock rating to neutral
from outperform and cut its 2010 profit target.

“While Walgreen’s plan to slow growth, cut costs, and enhance store
productivity has yielded some positive results, we have been generally
disappointed with the repositioning to date,” analyst Ed Kelly said in
a research note.

He lowered his stock-price target to $36 from $42. The average price
target of analysts is $41.69, according to a FactSet Research poll.
Walgreen operates 8,000 stores in 50 U.S. states.

 It closed its purchase of the Duane Reade drug-store chain last month.