Credit Suisse Assumes, Upgrades Wal-Mart (WMT) to Outperform

September 16, 2016 6:53 AM EDT
Get Alerts WMT Hot Sheet
Price: $68.34 -0.57%

Rating Summary:
    10 Buy, 21 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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."

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 $72.40 yesterday.

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