BMO Capital Cuts Price Target on Wal-mart (WMT) to $63 Following Released Earnings Outlook

October 11, 2016 8:50 AM EDT
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Price: $66.65 -0.79%

Rating Summary:
    10 Buy, 21 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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BMO Capital maintained an Underperform rating on Wal-Mart (NYSE: WMT), and cut the price target to $63.00 (from $67.00), following the company's release of its 2017-18 earnings outlook. 2017 earnings are expected to be about flat with 2016 and increase 5% in 2018 compared with prior guidance of 5%-10% in 2018.

Analyst Wayne Hood commented, "Our comments follow our initial impressions note where management reaffirmed its 2016 EPS guidance, but provided a 2017 and 2018 earnings outlook that was below expectations. We update our EPS outlook and reiterate our Underperform rating as EBIT/EPS growth looks to lag the consumer staples group and the market at large."

For an analyst ratings summary and ratings history on Wal-Mart click here. For more ratings news on Wal-Mart click here.

Shares of Wal-Mart closed at $67.98 yesterday.

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