BMO Capital Cuts Price Target on Wal-mart (WMT) to $63 Following Released Earnings Outlook
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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."
Shares of Wal-Mart closed at $67.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Neurocrine Biosciences (NBIX): Increasingly Bullish on Valbenazine - BMO
- Jefferies Cuts Price Target on Waters Corp. (WAT) Following Revenue Miss
- Jefferies Cuts Price Target on Entergy (ETR) to $74 Following new Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!