As Top-Line Improvements Continue, Goldman Sachs Reiterates Wal-Mart Rating

Wal-Mart WMT shares rallied 0.6% versus a 1.6% decline in the S&P 500 as the company delivered a US comp and Q3 EPS within its guidance range as well as upwardly revise its EPS outlook, Goldman Sachs reports. “It was another quarter in which the company demonstrated that it can drive EPS growth ahead of sales through a moderating promotional stance and solid expense management,” Goldman Sachs writes. “With the company anticipating a positive US comp in 4Q as sequential top-line improvements continue, we reiterate our Buy rating.” Wal-Mart currently trades at $53.70.