Jefferies Upgrades Wal-Mart (WMT) to Buy, Sees Firmer Footing on Turnaround
Get Alerts WMT Hot Sheet
Price: $59.53 +0.46%
Rating Summary:
38 Buy, 12 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
38 Buy, 12 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham Upgrades Netflix (NFLX) to Buy, 'on Rev Upside from Tech Stack'
- Centamin Plc. (CEY:LN) (CELTF) PT Raised to GBP1.50 at Canaccord Genuity
- Walmart Collaboration with The Jessica Simpson Collection Brings Boho-Chic to its Growing Fashion Assortment
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, Hot Upgrades, UpgradesRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!