Walgreens Boots Alliance (NASDAQ: WBA) pays an incredibly high dividend yield. It's also trading near lows it hasn't seen in years. That's because the business is facing some significant risks as it's no longer getting a boost from COVID vaccine traffic and its financials are hurting. In the midst of all this, the company has a new CEO, Tim Wentworth.

There's a lot for investors to unpack when it comes to Walgreens Boots Alliance. Below, I'll outline the bullish and bearish cases for investing in the stock, and whether it's an investment you should consider adding to your portfolio today.

One of the biggest reasons investors may be bullish on Walgreens' stock these days is its incredibly low valuation. Just when you think the healthcare stock can't get any cheaper, it finds a way to go lower. Shares of Walgreens haven't been at their current levels in more than a decade. At 6 times earnings, the stock is either a deep value buy or simply a value trap.

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Source Fool.com