After its shares dropped Wednesday to a 52-week low on the day of its annual shareholders meeting in Chicago, Walgreen Co. dusted itself off and its stock price rebounded more than 2 percent Thursday.
Expressing confidence to the 2,000-plus shareholders at the meeting about the company's future, CEO Jeffrey Rain said one reason for optimism is the company's success in acquiring hard-to-find pharmacists by luring them from other stores, along with their customer lists.
Some analysts feel the recent drop in stock price was overblown and that it has become undervalued.
"I think it was an aberration," said Andrew Wolf, an analyst with BB&T Capital Markets in Richmond, Va.
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