According to VectorVest's methodology, Walgreen looks attractive, despite having a relatively high p/e and PEG (30 and 1.9 according to quicken.com).
Looking at the VectorVest report, it doesn't look quite as attractive to me. The report says it's "only" fairly valued with a current value of 47.97 compared to its current price of 43.78. It's given an excellent RS (relative safety) rating, but only fair relative timing, and is rated a hold.
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