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Wal-Mart (WMT) Numbers Cut at Jefferies, 'Buy' Maintained

August 16, 2013 8:40 AM EDT Send to a Friend
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Price: $76.84 +0.81%

Rating Summary:
    7 Buy, 16 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Jefferies analyst Daniel Binder trimmed estimates and its price target on Wal-Mart (NYSE: WMT) from $90 to $86 following disappointing Q2 results, but maintained a Buy rating highlighting positive category comps.

"Conventional wisdom has been that Walmart primarily has one weapon – price. While probably underappreciated today, comp store sales were positive in categories where quality was up and price points were flat to down," the analyst comments. "This included apparel, home and produce. That said, price still matters and in a quarter where WMT eased up on price investment (to offset higher costs), we saw sales soften in dry and frozen grocery."

The firm cut Q3 EPS from $1.20 to $1.13, FY 2013 EPS from $5.38 to $5.23 and FY 2014 EPS from $6.12 to $5.94.

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 $74.41 yesterday.




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