Retail superpower Wal-Mart Stores, Inc. ( WMT ) on Thursday saw its earnings estimates raised by analysts at Jefferies & Co.
The firm said it lifted its estimates for WMT through 2012, noting that grocery sales are being aided by a broader assortment of items.
Jefferies currently rates WMT as a "Buy" with a $61 price target, which suggests an 11% upside to the stock's Wednesday closing price of $55.17.
Wal-Mart shares were mostly flat in premarket trading Thursday.
The Bottom Line
We have been recommending shares of Wal-Mart Stores ( WMT ) since Mar.4, 2011, when the stock was trading at $52.01. The company has a 2.65% dividend yield, based on last night's closing stock price of $55.17.
Wal-Mart Stores, Inc. ( WMT ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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