The new chief executive officer is a veteran in healthcare industry. That's where Amazon wants to make waves.
Earlier this week, Walgreens Boots Alliance appointed industry veteran Tim Wentworth as chief executive officer. On Thursday, the company reported lower-than-expected earnings for its most recent quarter.DA Davidson analysts led by Tom Forte, who rate Amazon shares at Buy with a price target of $150, are keeping an eye on Walgreens and CVS , they wrote in a Thursday report, because the two companies could stand in the way of Amazon gaining market share in healthcare.
That being said, Davidson is “bullish on the long-term potential for Amazon to exploit the healthcare market opportunity.” They believe there’s a greater than 10% chance the online giant can snap up an incremental 100 basis points of revenue growth in 2026 from healthcare — best achievable through a trio of factors including initiatives in pharmacy, AWS working with companies in healthcare, and making strides in primary care.
Amazon shares were edging 0.5% higher to $132.44 in premarket trading, while Walgreens stock rose 1.3% to $22.90.
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