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As Vaccines and 5G Come to
Pharmacies Near You,
Walgreens and Verizon Are Stocks to Watch

Verizon Business (NYSE:VZ) and Walgreens Boots Alliance (Nasdaq: WBA) recently announced a multi-year strategic partnership to bring 5G to more than 9,000 Walgreens and Duane Reade locations nationwide. In addition to delivering high-speed networking connectivity via fixed 5G cards, the service provider promises to help Walgreens roll out wide-scale digital upgrades, notes Dawn Allcot, contributing writer for GOBankingRates.

The Network as a Service agreement is Verizon’s largest yet. “This is the largest, fully customized, Network as a Service solution for a partner on this scale,” said Tami Erwin, CEO, Verizon Business in a press release. “Working closely with Walgreens understand their focus areas, we’ve tailored an offering that will meet their technology needs of today, and quickly scale to offer a rolling deployment of 5G in Walgreens locations, next-gen in-store experiences for customers and employees, and future-proofed backend operations to enhance efficiencies.”

In addition to the technology upgrades, Walgreens is also playing a crucial role in administration of the COVID-19 vaccines. The pharmacy is coordinating with the Centers for Disease Control and Prevention to deliver on-site vaccines at long-term care facilities and nursing homes. Walgreens, along with competitor CVS, is also looking to hire tens of thousands of employees to help administer the vaccine to at-risk populations right now and, presumably, to the general public in their stores after the new year.

Verizon remains a solid buy due to its high-yield dividends and “services that are central to the information age,” The Motley Fool reported.

TipRanks.com provides the following analyst rating data for Verizon and Walgreens Boots Alliance: Based on 11 analysts offering 12-month price targets for Verizon in the last 3 months. 4 analysts rate VZ a “Buy” and 6 a “Hold” and 1 a “Sell.” The average target price is $62.38 with a high forecast of $70.00 and a low forecast of $56.00.

Based on 6 analysts offering 12-month price targets for Walgreens Boots Alliance in the last 3 months. 4 analysts rate WBA a “Hold” and 2 a “Sell.”

The average price target is $38.75 with a high forecast of $42.00 and a low forecast of $33.00.

Editor’s Note: TipRanks.com offers the most comprehensive dataset of analysts, hedge fund managers, financial bloggers, and corporate insiders. Dawn Allcot is a contributing author to www.gobankingrates.com, a personal finance website.

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