Wells Fargo Raising Numbers on Wal-Mart (WMT); Start Paddling, Don't Feel Push From Wind Anymore

August 17, 2012 8:32 AM EDT
Get Alerts WMT Hot Sheet
Price: $68.42 +1.92%

Rating Summary:
    10 Buy, 21 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Wells Fargo maintains a 'Market Perform' on Wal-Mart (NYSE: WMT) price target range raised to $66-$70 (from $60-$64)

Analyst, Matt Nemer, said, "Despite an in-line quarter, results and guidance weren’t good
enough to boost WMT shares higher after its huge run over the last 3 months (up
26% versus the S&P up 7%,). Sam’s comps also decelerated a bit this quarter,
and the company announced it will temper growth plans in emerging markets
this year in order to focus on improving store productivity and profitability."

"Back to school sales are also off to a strong start, with apparel categories up 7% season-to-date. We are fine-tuning our estimates to reflect this quarter’s results and guidance. Our Q3 EPS estimate goes from $1.05 to $1.08 (versus guidance of $1.04-1.09), our FY2013 EPS estimate goes from $4.87 to $4.90 (versus guidance of $4.83 to $4.93), our FY2014 estimate goes from $5.25 to $5.26."

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 $72.15 yesterday.

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