Wal-Mart Shares Down on Goldman Sachs Ratings Cut

Goldman Sachs said it cut Wal-Mart Stores to "neutral" from "buy" and its price target to $51 from $53.

In a research note, the brokerage said weak sales at Wal-Mart continue to suggest payback from earlier investments will take more time than it had originally anticipated.

The brokerage lowered its earnings estimates for the world's biggest retailer to $3.10 a share from $3.14 for 2007 and to $3.51 a share from $3.54 for 2008.

Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video