Wal-Mart (WMT) PT Raised to $85 at Jeffereis on eCommerce Progress

Jefferies analyst Daniel Binder reiterated a Buy rating and raised his price target on Wal-Mart (NYSE: WMT) to $85.00 (from $82.00) as eCommerce is showing progress.

Binder commented, "We continue to see progress in stores and online and believe mgmt. is focused on the right things to better position WMT longer-term. In Q2 we have seen the expansion of WMT’s third-party marketplace (millions of SKUs being added), expansion of buy grocery online, pick-up in store and stronger price messaging online. WMT rolled out Walmart Pay and launched a free trial of ShippingPass, both of which we believe were well received."

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 $73.66 yesterday.

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