Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

UBS Warburg Lowers Wal-Mart to 'Neutral'

UBS Warburg lowers Wal-Mart (WMT) to neutral from buy.

Analyst Gary Balter says he's concerned the discount-retail giant won't show the upside leverage that other retailers have as the economy improves. Also, he's concerned with the lack of expense leverage given strong domestic comparison-store sales. He says it seems the company is stuck between the cautious consumer and rising costs.

Balter continues to see evidence that lower-income customers aren't enjoying the spending pickup that middle-income and higher-income customers are enjoying. He cut the price target to $60, which is a 50% premium to the market multiple on 2004 earnings per estimates, and is a fair premium for an excellent long-term story that should provide a slightly lower growth rate than the market in 2004.

blog comments powered by Disqus