UPDATE: Morgan Stanley Reiterates On Wal-Mart Stores As Gross Margin Pressure Is Less Than Feared
In a report published Thursday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on Wal-Mart Stores (NYSE: WMT), but removed the $87.00 price target.
In the report, Morgan Stanley noted, “Relative to market expectations, a key takeaway from yesterday's meeting with WMT management is that gross margin pressure should be no worse than Q1. Though the top-line backdrop has not improved (it has not gotten worse either), steady gross margins and ongoing expense control should enable the achievement of near term estimates.”
Wal-Mart Stores closed on Wednesday at $75.62.
Latest Ratings for WMT
|Jan 2017||Stifel Nicolaus||Reinstates||Hold|
|Oct 2016||PiperJaffray||Initiates Coverage On||Neutral|
|Oct 2016||Deutsche Bank||Maintains||Hold|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.