With Wal-Mart shares up 20% so far this year will earnings on Tuesday show the retailer is firing on all cylinders?
Wal-Mart reports earnings Tuesday with analysts polled by Thomson Financial expecting a profit of 75 cents per share, on revenue of $93.22 billion. The world’s largest retailer is expected to benefit as customers begin spending their fiscal-stimulus checks.
One day ahead of earnings Citigroup raised its price target on Wal-Mart to $67 from $57, saying the stock's valuation should reflect a higher multiple to account for greater growth and profit opportunities from the company's streamlined international operations.
I agree with Citigroup, exclaims Jeff Make. Here’s why…
1. Brokers love to love Wal-Mart
2. The bar is set low
3. Wal-Mart has digested gains and grown into it’s multiple.
I think you can buy WMT on any dip, Macke says.
Wal-Mex is the biggest retailer in Mexico, adds Tim Seymour. That’s also a positive for this company.
I think Wal-Mart could have a 60-handle, adds Guy Adami.