Wal-Mart Stores Inc (WMT) Receives a Rating Update from a Top Analyst

Guggenheim analyst Robert Drbul maintained a Buy rating on Wal-Mart Stores Inc (NYSE: WMT) today and set a price target of $110. The company’s shares closed yesterday at $95.76.

Drbul wrote:

“We remain $110 PT. We believe the Walmart U.S. business remains on solid footing, led by Greg Foran’s consistent and persistent efforts in the stores. The US business has reported 15 consecutive quarters of traffic increases (and 16 with positive comps). We believe a portion of these gains are being fueled by strategic price investment across the store (not only in grocery/food). Improved presentation/assortment in grocery/food (>50% of sales) is aiding sales, as well. We expect store tours next week will focus on the latest in-store innovations/ technology, with an emphasis on omni-channel. We continue to forecast nearly 3% Walmart US comp growth in 2H18 and believe ~2% growth is achievable through 2019.”

According to TipRanks.com, Drbul is a top 100 analyst with an average return of 16.0% and a 74.7% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Ascena Retail Group, and Ralph Lauren Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wal-Mart Stores Inc with a $107.19 average price target, which is an 11.9% upside from current levels. In a report issued on October 9, Deutsche Bank also upgraded the stock to Buy with a $113 price target.

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The company has a one-year high of $109.98 and a one-year low of $81.78. Currently, Wal-Mart Stores Inc has an average volume of 7.2M.

Based on the recent corporate insider activity of 211 insiders, corporate insider sentiment is negative on the stock.

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