Wal-Mart (WMT) PT, Estimates Cut at Jefferies

Jefferies analyst Daniel Binder lowered estimates and his price target on Hold-rated Wal-Mart (NYSE: WMT) price target of $77.00 (from $82.00) following Q4 results and news the company will raise wages.

Binder commented, "Wage increases reflect a need to close the gap with other retailers such as Costco and unionized grocers. Combined with better training and accountability, this has the potential to attract better quality workers and incentivize current employees to be more productive and customer centric. This comes after a period of underinvestment, heavy public scrutiny and a management change at the top and in the Walmart division."

The firm cut Q1 EPS from $1.11 to $1.06, FY 2015 EPS from $5.15 to $4.81 and FY 2016 EPS from $5.49 to $5.16.

For an analyst ratings summary and ratings history on Wal-Mart click here. For more ratings news on Wal-Mart click here.

Shares of Wal-Mart closed at $83.52 yesterday.

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