UPDATE: Citi Reiterates Buy Rating on Walmart Citing Position in Back to School Rush

In a report published on Wednesday, Citi analyst Deborah L Weinswig reiterated Walmart WMT at Buy. In the report, Citi noted, "We believe WMT will be at the head of the class in a competitive Back-to-School (B2S) season as our retailers fight for share of a smaller wallet. The NRF expects B2S sales down (-11.9)% YOY (although we caution that this forecast is based on a consumer intention survey and we use it more as a directional guide), reflecting higher payroll taxes and a difficult comp". Walmart closed on Tuesday at $78.55