UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Wal-Mart

In a report published Friday, Credit Suisse Group reiterated its Neutral rating on Wal-Mart Stores

, and raised its price target from $58.00 to $75.00. Credit Suisse noted, “We are raising our target price for Walmart to $75 (from $58) based on a '13E EV/EBITDA multiple of 7.6x. For the first time in years, both traffic and ticket have increased in the US for two straight quarters. Same store sales in the domestic business have also accelerated for five consecutive quarters. US sales have likely benefited from the new marketing campaign that WMT rolled out over the last few months. The campaign clearly highlights the WMT's Everyday Low Prices (EDLP) by emphasizing savings that may be achieved on the total basket by shopping at WMT vs local or national competitors.” Wal-Mart Stores closed on Thursday at $71.53.