Citi Maintains Buy on Wal-Mart Stores

Citi is out with its report today on Wal-Mart WMT, maintaining Buy. In a note to clients, Citi writes, "We rate the shares of WMT Buy/Medium Risk (1M). We expect long-term same-store sales growth to be driven by WMT's strong value proposition and improved in-store execution. In addition, the company should continue to gain market share from the supermarkets in food and consumable categories, given the significant price savings offered by WMT." Citi maintains a $70 PT on WMT. Shares of WMT closed Tuesday at $53.59, down 0.70% from Monday's close.