Bank of America Merrill Lynch Maintains Buy on Walmart Stores

Bank of America Merrill Lynch is out with its report today on Walmart Stores WMT, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "A solid comp outlook for the U.S. is supported by improving merchandise execution under new WMT US leadership, supported by increased focus on EDLP price leadership and a re-broadening of WMT's merchandising assortment with opening price points. Global growth opportunities and a more consistent profit growth support the outlook for Walmart's International business (25% of sales) and also should support a higher PE multiple." Bank of America Merrill Lynch maintains a $65 PO on WMT. Shares of WMT closed Tuesday at $53.76, up 0.19% from Monday's close.