Jefferies Upgrades Wal-Mart (WMT) to Buy, Sees Firmer Footing on Turnaround
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Price: $76.33 -0.91%
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade WMT Now!
Jefferies upgraded Wal-Mart (NYSE: WMT) from Hold to Buy with a price target of $88.00 (from $74.00).
The firm comments, "We are upgrading shares to Buy as WMT gains firmer footing to propel the turnaround story beyond easy sales comparisons. We are raising our estimates and see potential for further multiple expansion as: 1) comp momentum continues in 3Q against tougher comparisons; 2) the upward EPS revision cycle continues; 3) unit growth accelerates for high-return smaller-format stores; and 4) international operations improve."
FY12 EPS goes up from 4.88 to $4.93, FY13 EPS goes up from $5.25 to $5.50.
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 $75.01 yesterday, with a 52 week range of $54.48-$76.81.
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The firm comments, "We are upgrading shares to Buy as WMT gains firmer footing to propel the turnaround story beyond easy sales comparisons. We are raising our estimates and see potential for further multiple expansion as: 1) comp momentum continues in 3Q against tougher comparisons; 2) the upward EPS revision cycle continues; 3) unit growth accelerates for high-return smaller-format stores; and 4) international operations improve."
FY12 EPS goes up from 4.88 to $4.93, FY13 EPS goes up from $5.25 to $5.50.
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 $75.01 yesterday, with a 52 week range of $54.48-$76.81.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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