B · Normal
[UBS: Raise Wal-Mart's target price from US$130 to US$149, with a "buy" rating] On November 10, UBS issued a report stating that Wal-Mart's third quarter should show an increase in market share and a healthier profit algorithm than superficial same-store sales. It raised the target price from US$130 to US$149, with a "buy" rating. The bank expects U.S. same-store sales to grow by 2.8%, which will meet or slightly exceed market expectations of a high of 2% to a low of 3%, benefiting from positive customer flow, continued market share gains and strong e-commerce growth. The bank believes that the continued expansion of e-commerce, the growth of higher-margin alternative revenue streams, and the company's better ability to invest in price and convenience while still generating attractive operating income growth are more important to the sustainability of the investment case than a few basis points of same-store sales plus or minus.
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