Deutsche Bank Upgrades Wal-Mart (WMT) to Hold; Strategy Being Executed
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Price: $75.56 -0.22%
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade WMT Now!
Deutsche Bank upgraded Wal-Mart (NYSE: WMT) from Sell to Hold, price target adjusted to $68.00.
Deutsche analyst said, "Our call is a combination of both improving fundamentals from Bentonville and a view that the defensive trade we've seen since late April will likely persist into early '13. Separately, the rules of engagement have changed in favor of Wal-Mart - both commodity moves (i.e. gas prices down = + for traffic; food inputs up = + for SSS) and incremental market share opportunities from SUPERVALU (NYSE: SVU) / JCPenney (NYSE: JCP) / RadioShack (NYSE: RSH) / Best Buy (NYSE: BBY). Finally, post a meeting with mgmt. yesterday in NJ, it’s evident that the company’s current strategy is being well executed and once again resonating with the core WMT shopper." (FY12/13 EPS estimate raised from $4.91/$5.27)
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 $74.43 yesterday, with a 52 week range of $48.31-$75.24.
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Deutsche analyst said, "Our call is a combination of both improving fundamentals from Bentonville and a view that the defensive trade we've seen since late April will likely persist into early '13. Separately, the rules of engagement have changed in favor of Wal-Mart - both commodity moves (i.e. gas prices down = + for traffic; food inputs up = + for SSS) and incremental market share opportunities from SUPERVALU (NYSE: SVU) / JCPenney (NYSE: JCP) / RadioShack (NYSE: RSH) / Best Buy (NYSE: BBY). Finally, post a meeting with mgmt. yesterday in NJ, it’s evident that the company’s current strategy is being well executed and once again resonating with the core WMT shopper." (FY12/13 EPS estimate raised from $4.91/$5.27)
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 $74.43 yesterday, with a 52 week range of $48.31-$75.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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