Jefferies Lowers Price Target on Wal-Mart (WMT)

Jefferies analyst lowered their price target on Wal-Mart (NYSE: WMT) $1.70 from $58.70 to $57.00 while maintaining a hold rating on the company.

Headlines from Mexico have cast a cloud over the outlook for the stock, considering unknown effects from the investigation which could include potential charges from Mexican authorities, possible investor lawsuits, or worse - more headlines.

Jefferies analysts recommend adding to positions on dips, but do not recommend pulling the trigger at these levels. The $57 price target is based on WMT shares selling at about 12x Jefferies’ FY13 EPS estimate of $4.81. This is slightly below the company’s average 3 year P/E ratio of 12.5x.

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 $58.70 yesterday.

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