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Wal-Mart Remains Barclays' Top Pick Despite Mixed Results

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Wal-Mart Remains Barclays' Top Pick Despite Mixed Results

Wal-Mart Stores, Inc. (NYSE: WMT) shares have fallen after posting mixed third-quarter results this week. The Retail Powerhouse beat on earnings but missed on sales estimates, leaving shares down nearly four percent. Despite the mixed earnings results, sell-side analysts are staying the course on Wal-Mart.

Wal-Mart Remains Barclays' Top Pick

Traffic growth was solid in the quarter but comps were below expectations likely due to unusually warm weather that hurt apparel sales. Despite the mixed results, Wal-Mart remains Barclays top pick and maintains its Overweight rating on the company.

“We believe WMT is in the early stages of sustainably repositioning the business and that its investments will pay off in the long-run,” said Barclays on Thursday.

The bank did lower Wal-Mart's fourth-quarter EPS estimate from $1.32 to $1.25.

Baird Staying The Course

Analysts at Baird Equity Research had a similar strategy when it came to Wal-Mart, maintaining its Outperform rating. E-commerce sales accelerated nicely and showed some encouraging trends, which has been a key focus for the future of the company. Global e-commerce sales increased over 20 percent.

Another bright spot? Wal-Mart is promising new stock for the sold-out NES Classic edition this week.

Wal-Mart Shares are up 12 percent year-to-date.

Image Credit: By Benchapple (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Latest Ratings for WMT

DateFirmActionFromTo
May 2020Morgan StanleyMaintainsOverweight
May 2020GuggenheimMaintainsBuy
May 2020StifelMaintainsHold

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