Jefferies Has Buy Rating On Wal-Mart (WMT)

Jefferies & Co. has a Buy rating and a $61 price target on shares of Wal-Mart WMT after it reported earnings. In a note to investors, Jefferies writes, "We think Q1 results and the outlook for Q2 were enough to essentially maintain current levels. We think investors should continue to own the stock. We were encouraged by sequential improvement in comps, but they remain negative in non-food categories, which will limit upside in the shares. Meantime the company is broadening the assortment, which should help to turn some of these businesses." Shares of WMT lost 52 cents yesterday to close at $55.54, a loss of 0.9%.