Wall Street Strategies Reiterates Sell On Wal-Mart

Wall Street Strategies is out with a research report reiterating its Sell rating and $50 price target on shares of Wal-Mart WMT. In a note to clients, Wall Street Strategies writes, "We continue to maintain a Sell rating on Wal-Mart (WMT) despite the stock trading at 12.5x forward earnings and sporting a 2.7% dividend yield at the moment. The reason goes like this: in order to justify a higher multiple and a shift upwards in our earnings assumption, there has to be a trigger either economically or internally (better running of the business)." At last check, shares of WMT are off 18 cents to $53.90, a loss of 0.33%.