Jefferies Raises PT on Wal-Mart to $57

Jefferies & Company has published a research report on Wal-Mart

after raising its price target on the company from $56 to $57. In the report, Jefferies writes, "At the investor meeting, management reported a third consecutive month of positive comp sales and a path to higher ROI in International, but other indications could keep investors cautious: 1) continued negative U.S. traffic trends; 2) price investment resulting in flattish US operating margin next year; and 3) acceleration of U.S. store growth with greater focus on infill markets than in recent years." Jefferies maintains its Hold rating on Wal-Mart, which is currently trading down $0.22 from yesterday's $55.20 closing price.