Credit Suisse Assumes, Upgrades Wal-Mart (WMT) to Outperform
- Wall Street falls sharply on worries about banks
- Some Deutsche Bank (DB) Clients Said to Reduce Collateral on Trades
- Qualcomm (QCOM) in Talks to Acquire NXP Semiconductors (NXPI) - DJ
- Costco Wholesale (COST) Tops Q4 EPS by 4c; Comps Rose 3%
- After-Hours Stock Movers 09/29: (MENT) (CEMP) (COST) Higher; (CAMP) (ABUS) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Credit Suisse upgraded Wal-Mart (NYSE: WMT) from Neutral to Outperform with a price target of $80.00 (from $62.00) in assumed coverage.
Analyst Edward Kelly commented, "WMT's in-store investments and a better low-end consumer have yielded the return of traffic growth against a deteriorating staples retail landscape. While there is more work to do, early progress has been encouraging. We see a continuation of top-line momentum as management invests further, and although earnings growth is limited, risk to consensus looks low. This set-up should yield outperformance in an uninspiring coverage universe."
Shares of Wal-Mart closed at $72.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KeyBanc Starts Wal-Mart (WMT) at Overweight
- UBS Cuts Price Target on Platform Specialty Products (PAH) Following Investor Day
- BMO Capital Raises Price Target on Methanex (MEOH) to $40
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesCredit Suisse, 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!