Walgreen's: Baby Boomer Play That Continues to Pay: StockTwits.com

NEW YORK (TheStreet) -- Walgreen's  (WAG) was in the green Wednesday thanks in large part to its pharmacy business. Iinvestors on StockTwits.com are betting its growth is a sign of gains for the baby boomer-fueled drug store industry.

Walgreen's stock rose more than 4% to just below $75 after it revealed that May sales grew 6% from the same period a year ago to $6.57 billion. Same-store sales rose 4.4%.

$WAG the dog. Strong May sales for Walgreen. $WAG up more than 3%. All-time high. $CVS up a little bit as well.

? Paul La Monica (@lamonicabuzz) Jun. 4 at 10:55 AM

Walgreen $WAG may comp sales rose 4.4% vs. Exp. up 4.1%

? FinancialJuice (@FinancialJuice) Jun. 4 at 08:01 AM

Walgreen attributed the growth to a spike in pharmacy sales. May pharmacy sales jumped 7.9% and accounted for 64.2% of total sales for the month. Prescriptions filled at comparable stores jumped 4%.

The same-store sales data added to positive momentum from analyst notes. Goldman Sachs analysts maintained a "conviction buy" rating today and increased their price target $1 to $80-per-share. Goldman analyst Robert Jones cited prescription growth as a reason for the bullishness. Morgan Stanley reiterated an overweight rating on the stock earlier this week.

Walgreen Company's overweight rating reiterated at Morgan Stanley. $75.00 PT. http://stks.co/e0cEL $WAG

? Analyst Ratings Network (@AnalystRatingsNetwork) Jun. 2 at 08:32 AM

Most investors on StockTwits.com predicted Walgreens shares would rise. Sentiment is 100% bullish, according to site analytics. CVS Caremark  (CVS) and Rite Aid  (RAD) also rose after the Walgreen release.

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