J.P. Morgan analysts are optimistic about Walgreen's newest CEO saying they are encouraged by his expertise in healthcare services like leading Cigna’s health services organization.
Shares of Walgreens jumped Monday morning after J.P. Morgan said it was encouraged by new CEO Tim Wentworth's ability to reduce overhangs and boost the pharmacy chain's performance. "We believe that today commences a new era for shares of as Tim Wentworth assumes the CEO role," J.P. Morgan analysts said in a research note led by Lisa Gill.
Wentworth officially steps into his role as CEO on Monday. Earlier this month, he was tapped to lead to the company after heading Cigna’s health services organization Evernorth from 2020 to 2021. Between 2016 and 2021, he also sat the helm of Express Scripts, which became the largest pharmacy benefit manager in the United States after it merged with Medco Health Solutions, Inc.
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