Wal-Mart’s Rosy Forecast Boosts Shares’ Premium to Target: ChartBy
Shares of Wal-Mart Stores Inc. traded near a 20 percent premium to those of Target Corp. on a price-to-earnings basis on Thursday. That’s close to the highest in more than four years. The world’s largest retailer gained after boosting its forecast for earnings this year and posting second-quarter profit that topped analysts’ estimates. A day earlier, Target cut its projections, citing a “difficult retail environment.”
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