WMT Sees A Decline In Weekly Rollbacks

Analysts at Citigroup reiterate their "buy" rating on Wal-Mart Stores Inc WMT. The target price for WMT is set to $63. According to Citigroup, the number of rollbacks in WMT’s Grocery and Health & Wellness segments declined on a week/week basis for the week-ended May 14. “We are expecting increased price investments and improved price communication to drive higher traffic and topline growth for Walmart US,” the analysts mention. Wal-Mart Stores’ three most compelling rollbacks included were mangoes, cantaloupes and green giant vegetables with cheese sauce. The analysts also surveyed the prices of frequently purchased food and consumable items at WMT. “The average price of the basket was down (-10) bps week-over-week,” according to Citigroup. More Analyst Ratings here