UPDATE: JP Morgan Raises PT to $67 on Wal-Mart Stores on Compelling Risk Reward
JP Morgan increases its price target from $64 to $67 on Wal-Mart Stores (NYSE: WMT) and reiterates its rating of Overweight on strong momentum.
JP Morgan notes, "We expect the trends in the core division to be the primary driver of the stock, in addition to International profitability, as these have the greatest impact to EPS upside. Finally, WMT tends to perform best during times of market uncertainty."
WMT closed at $61.68 on Thursday.
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