UPDATE: Deutsche Bank Raises PT on Wal-Mart Stores on Positive Set-Up
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Wal-Mart Stores (NYSE: WMT), and raised the price target from $68.00 to $76.00.
In the report, Poole noted, “OK' Results Probably Enough for Wal-Mart. We believe expectations are low heading into WMT's 1Q print (5/16), potentially providing a positive set-up. Given chatter about disappointing SSS during the quarter and flat 1Q SSS results at peer TGT, we believe a modest negative comp would not be a surprise. Also, WMT is a cheaper 'defensive' stock relative to consumer staples, which have outperformed of late. We remain at Hold on concerns about slowing traffic/SSS.”
Wal-Mart Stores closed on Friday at $78.89.
Latest Ratings for WMT
|Nov 2015||Citigroup||Initiates Coverage on||Neutral|
|Oct 2015||Wells Fargo||Upgrades||Market Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.