Wal-Mart Recieves Upgrade from Jefferies & Co; Firm Predicts Turnaround (WMT)

Retail superpower Wal-Mart Stores, Inc. (WMT) on Friday received a big upgrade from analysts at Jefferies & Co.”

The firm upgraded Wal-Mart from a “Hold” to a “Buy” with a price target of $88, which was previously at $74. That new target suggests a 14.7% increase from the stock’s Thursday closing price of $75.01.

A Jefferies analyst commented, “We are upgrading shares to Buy as WMT gains firmer footing to propel the turnaround story beyond easy sales comparisons. We are raising our estimates and see potential for further multiple expansion as: 1) comp momentum continues in 3Q against tougher comparisons; 2) the upward EPS revision cycle continues; 3) unit growth accelerates for high-return smaller-format stores; and 4) international operations improve.”

Wal-Mart Stores, Inc. (WMT) stock fell 41 cents, or -0.54%, in premarket trading Friday.

The Bottom Line
Shares of Wal-Mart Stores (WMT) have a 2.12% dividend yield, based on last night’s closing stock price of $75.01. The stock has technical support in the $71-$72 price area. The shares are trading at all-time highs.

Wal-Mart Stores, Inc. (WMT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here