Which stock does Citigroup’s Deborah Weinswig think is nearly a perfect 10?
We won't keep you in suspense. It's Wal-Mart! Here's why.
Background
On Tuesday, Wal-Mart posted a profit that beat Wall Street forecasts and said it expects to outperform rivals as a global downturn forces shoppers to seek low prices.
Wal-Mart's sales have been outpacing direct competitors like Target and Costco as well as lower-priced department stores like J.C. Penney in recent months as consumers stretch limited budgets by shopping in its stores for necessities like food and medicine.
"Our performance relative to competitors was exceptionally strong in the fourth quarter and throughout the year," Chief Executive Mike Duke said in a statement. "We expect this momentum to continue."
The retailer pegged some of that strength on the fact that families are eating at home more often, sparking demand for groceries as well as items used for home cooking and entertaining.
"The business model that Sam Walton created is perfectly positioned for the environment we live in now," Duke said, referring to the company's founder. "I do believe this is Wal-Mart's time."
