Erste Group Upgrades Walmart (WMT) to Buy
Erste Group analyst Hans Engel upgraded Walmart (NASDAQ: WMT) from Hold to Buy.
The analyst comments "The Group also increased its sales and profit in Q4. This is a positive development. Walmart's outlook for the current financial year is sales growth of around +4% and an increase in operating profit of around +7%. The operating margin should therefore increase slightly this year and also in the next financial year. According to the group, earnings per share will be in the range of around USD 2.75 to 2.85 this year. We expect Walmart to exceed its own forecast."
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Shares of Walmart closed at $124.74 yesterday.