UPDATE: Deutsche Bank Reiterates on Wal-Mart Stores on Potential Turnaround After Disappointing 3Q Results

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, and raised the price target from $75.00 to $77.00. In the report, Deutsche Bank noted, “WMT's 3Q results were disappointing as (1) U.S. SSS fell (0.3%) for the third consecutive Q despite compares easing sequentially, (2) FY EPS guidance was reduced to $5.11-$5.21 (ex charges) from $5.10-$5.30, and (3) ROI declined by 50 bps YOY to 17.5%. With that said, in this tough domestic and International environment, these shortfalls were not surprising and we suspect that many investors believe each could potentially represent a ‘bottom' from a fundamental standpoint – leading shares slightly higher today.” Wal-Mart Stores closed on Thursday at $79.08.