UPDATE: UBS Starts Wal-Mart (WMT) at Buy, Sees New Highs on Back of Consistent Sales Growth

April 16, 2013 7:42 AM EDT Send to a Friend
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Price: $66.69 -0.28%

Rating Summary:
    6 Buy, 21 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 19 | New: 49
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(Updated - April 16, 2013 10:33 AM EDT)

UBS initiated coverage on Wal-Mart (NYSE: WMT) with a Buy rating and a price target of $89.00. Analyst Jason DeRise said he thinks he thinks the company is entering a period of sustained, consistent sales growth.

"We believe Walmart is entering a long-term positive productivity cycle that can take its share price beyond its all time highs. We have completed a bottom up analysis of the 3 stages of growth ahead of Walmart. We conclude that it can sustain 5% sales CAGR for the next 10 years, with 9% EPS CAGR," said DeRise.

For an analyst ratings summary and ratings history on Wal-Mart (NYSE: WMT) click here. For more ratings news on Wal-Mart click here.

Shares of Wal-Mart closed at $78.47 yesterday.

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