WMT: Number of Rollbacks Down For Latest Week

Analysts at Citigroup reiterate their "buy" rating on Wal-Mart Stores Inc WMT. The target price for WMT is set to $65. The number of rollbacks in Wal-Mart Stores’ Grocery and Health & Wellness have declined week-over-week for the latest week. However, “the average rollback percentage increased for the third week in a row.” According to Citigroup, “The three most compelling rollbacks included: 1) cabbage, 2) corn and 3) limes.” “We surveyed the prices of frequently purchased food and consumable items at WMT. The average price of the basket decreased (-60) bps week-over-week.. On May 18, WMT announced further price reductions on a basket of 22 items in food and everyday essentials. The items in the basket will be offered for an average of 30% off for at least the next 90 days,” Citigroup adds. More Analyst Ratings here