UPDATE: Jefferies Downgrades Wal-Mart On Likely EPS Pressure
In a note published Monday, Jefferies analyst Daniel Binder downgraded shares of Wal-Mart (NYSE: WMT) from Buy to Hold and lowered the price target from $89 to $76.
"We think sales expectations are reasonably low for Q2 following management commentary intra quarter about business being no better or worse than recent (Q1) trend. However, as we have listened to management commentary through the first half of the year regarding investment spending, elevated expenses and lackluster sales, we believe the midpoint of annual guidance ($5.28) is less likely to be achieved and getting to Street expectations ($5.17) could be a challenge too."
Binder's EPS estimate for 2015 has been reduced from $5.72 to the low end of guidance at $5.10.
Latest Ratings for WMT
|Oct 2016||PiperJaffray||Initiates Coverage On||Neutral|
|Oct 2016||Deutsche Bank||Maintains||Hold|
|Sep 2016||Guggenheim||Initiates Coverage on||Buy|
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