Why Walmart Stock Was a Winner Today
A pair of very positive analyst takes juices the company's stock ahead of its big annual investor event.
Slightly over a week out from Walmart's (NYSE: WMT) investment community meeting -- its version of an investor day -- that ever-important community gave the company a stamp of approval. Walmart's share price rose by nearly 2% on Monday, convincingly beating the less-than 0.2% gain of the S&P 500 index. Leading the bull parade was a pair of influential analysts who reiterated their positive takes on the stock.
Both Goldman Sachs and Morgan Stanley published fresh research notes covering Walmart stock that morning.
The former's analyst Kate McShane reiterated her buy recommendation on the retailer, pointing out that the investment community meetings have a way of pushing up the share price. She added, sensibly, that commentary about profit margins and earnings guidance tends to be the most crucial driver of sentiment coming out of the event.
