Jefferies Provides Color On Investor Meeting Hosted By Wal-Mart

According to a recent report from Jefferies, Wal-Mart WMT hosted its Investor meeting and after a brief update on each division, Wal-Mart spent the meeting reiterating its top priority of turning the U.S. comp store sales positive. After the meeting, Jefferies reiterated a Buy rating and a $61.00 price target on Wal-Mart. In the report, Jefferies said, "Similar to other retailers, Wal-Mart cited seasonal weakness related to unseasonable weather in April and while we believe seasonal improved in May, overall we still believe that business was softer than expected." Wal-Mart closed on Friday at $53.66.