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Wal-Mart Stores shares have stalled since having an early runup last year, but John Lawrence, senior analyst at Morgan Keegan, said strong sales in the second half of the year will help it break out of its stalemate.
"The comparisons get easier in the second half, and I think we'll see better performance in the second half," Lawrence said.
Investors should approach Wal-Mart [WMT
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] on a long-term basis, as it gains share in apparel, home goods and electronics, he said.
The company also has a lot of leverage on the expense side, and with people trading down because of the tough economy, Lawrence said the retailer should post strong numbers over the next few quarters.
Lawrence also recommends Autozone [AZO
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Other Retail Stocks:
Target [TGT
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JCPenney [JCP
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Macy's [M
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Disclosures:
Lawrence does not own any Wal-Mart shares.
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