Wal-mart (WMT): Guide Down Possible At Upcoming Analyst Day - Buckingham
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Buckingham Research analyst, John Zolidis, reiterated his Neutral rating on shares of Wal-Mart (NYSE: WMT) and his $70 price target (representing 3% downside) ahead of next week's meetings and presentations.
The analyst expects the event to feature bullish commentary on the reaction to recent labor investments and discussion of further investing in the business on both the store and digital side. He also expects the company to continue the message around price investments, which are being enabled by the current deflationary environment. However, taking recent trends and expectations for further investment into account, the analyst believes the company could guide below current Street forecasts for FY17.
The take-away from the event is likely to be mixed in terms of whether WMT can translate its modest top-line success back into EPS growth during the foreseeable future.
Shares of Wal-Mart closed at $72.33 yesterday.
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