Charles Holley To Succeed Tom Schoewe As CFO Of Wal-Mart

Citigroup has published a research report on Wal-Mart Stores Inc. WMT. In the report, Citigroup writes "While WMT's announcement that Charles Holley would replace Tom Schoewe as CFO of the company was unexpected, we do not anticipate a significant change in strategy, as the management styles of Mr. Holley and Mr. Schoewe are similar. We are anticipating a smooth transition and expect to hear more on WMT's financial strategy at the company's analyst meeting on Oct. 13." Citigroup maintains its Buy rating and $64 price target. Wal-Mart Stores Inc. closed yesterday at $53.35.