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.
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