UPDATE: Goldman Sachs Maintains Neutral Rating, Raises PT for Wal-Mart Stores
In a company update published earlier today, the Goldman Sachs Group, Inc. maintained its Neutral rating for Wal-Mart Stores, Inc. (NYSE: WMT) and raised its price target from $58.00 to $63.00
Goldman Sachs said in its report “Following WMT's 1Q12 EPS release, we are updating our FY12/13/14 EPS estimates to $4.90/$5.21/$5.51 from $4.72/$5.00/$5.28. Our estimates now factor in $0.05 upside to 1Q, stronger U.S. comps, and continued flow-through to the bottom line. For 2Q, our $1.18 estimate sits at the high end of management's $1.13-$1.18 guidance. Our FY2012 EPS sits at the midpoint of management's original guidance when factoring in the $0.05 1Q beat ($4.77-$4.97).”
Wal-Mart Stores, Inc. closed yesterday at $61.68
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