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In a report published Thursday, Wolfe Research analyst Scott Mushkin downgraded
Wal-Mart Stores Inc.WMT from Peerperform to Underperform.
Mushkin noted that Wal-Mart is losing its competitive low-price edge in the United States. The analyst commented that by losing this edge, the company may lose their main traffic driver.
Wal-Mart will report fourth quarter earnings on February 20 before the market opens. According to Bloomberg data, Wal-Mart has 15 Buys, 15 Holds, and 3 sell with an average $82.00 price target.
Shares of Wal-Mart are down 7.3% YTD. Wal-Mart closed at $72.87 on Wednesday.
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