GO
Loading...

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

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video

  • CNBC's Tyler Mathisen looks back at the week's top business and financial stories. The markets were closed for Thanksgiving, but did manage to hit new highs. Low oil prices gave consumers more money to spend for Black Friday.

  • CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top stories. The jobs report comes out this week, as do auto sales. And the Rockefeller Center Christmas tree is lit.

  • Following last week's wild energy ride, analysts expect oil prices to continue to drop during the holiday season. CNBC's Patti Domm reports.