Gilford Securities Sees Wal-Mart (WMT) Headed Beyond $80/Share

December 28, 2012 12:42 PM EST Send to a Friend
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Price: $85.16 -0.91%

Rating Summary:
    6 Buy, 18 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Gilford Securities reiterated their Buy rating on Wal-Mart (NYSE: WMT) Friday, saying they believe the company had a strong holiday season and that shares will rebound to its high near $78 and possibly go beyond $80 after results are reported on Feb. 21, 2013.

"Based on visits to Walmart stores, mostly on Long Island, and observing traffic and seasonal departments, we surmise sales were up significantly over a year ago, despite the hardship caused by Hurricane Sandy," the analyst comments. "We would hesitate to generalize based on local observations but Walmart announced that it had its best Black Friday and that layaways were greater than a year ago. In addition, we believe food and consumables sales benefited from sharper pricing and that apparel departments had a good sell-thru across much of the US."

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 $68.19 yesterday.


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