Morgan Stanley Upgrades Wal-Mart (WMT) to Overweight

(Updated - January 23, 2019 7:15 AM EST)

(updated to add analyst comment)

Morgan Stanley analyst Simeon Gutman upgraded Wal-Mart (NYSE: WMT) from Equalweight to Overweight with a price target of $110.00 (from $107.00).

The analyst is expecting US EBIT to inflect in 2019 due to continued sales momentum, increased cost control and improving eCommerce margins. He also favors the company's defensive characteristics which increase the appeal of the risk/reward offering.

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 $97.49 yesterday.

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