Wolfe Research Downgrades Wal-Mart Stores to Underperform (WMT)

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Wal-Mart Stores (NYSE:WMT) was downgraded by equities researchers at Wolfe Research from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.

Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, November 14th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.01. The company had revenue of $114.90 billion for the quarter, compared to the consensus estimate of $116.75 billion. During the same quarter last year, the company posted $1.08 earnings per share. Wal-Mart Stores’s revenue was up 1.6% compared to the same quarter last year.

Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets cut their EPS estimates on shares of Wal-Mart Stores in a research note on Monday. They now have a “market perform” rating and a $81.00 price target on the stock. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Wal-Mart Stores in a research note to investors on Monday. They now have a $75.02 price target on the stock, down previously from $90.00. Finally, analysts at Jefferies Group cut their price target on shares of Wal-Mart Stores from $90.00 to $87.00 in a research note to investors on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Wal-Mart Stores, Inc (NYSE:WMT) operates retail stores in various formats globally.

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