UPDATE: Citi Lowers Price Target On Wal-Mart To $63
According to Citi, Wal-Mart Stores (NYSE: WMT) price target is lowered to $63.
Citi said that WMT reported 2Q11 EPS from continuing operations of $1.09 (incld. certain discrete items), a penny above estimate and consensus of $1.08, vs. guidance of $1.05 to $1.10, and vs. $0.97 last year. “We are lowering our target price for WMT to $63, down from $66 previously.”
Wal-Mart Stores closed yesterday at $51.92.
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