Jefferies Comments On Wal-Mart "Soft Sales"

According to Jefferies, Wal-Mart Stores WMT reported continued sales softness. Jefferies said that it showed a $0.01 beat following unusual expenses, a lower than expected tax rate and currency exchange benefits. US Division sales were consistent with the model, but better than informal expectations that came down in recent weeks. “Our $56 PT is based on WMT shares selling at about 12x our FY13 EPS estimate of $4.71.” Wal-Mart Stores closed yesterday at $51.92.
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Posted In: Analyst ColorAnalyst RatingsConsumer StaplesHypermarkets & Super CentersJefferies
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