The big dog of retail didn't hit a new high today but we figure it will continue to do so.
FOR THE NEXT DECADE.*
Currently down 13 cents at $74.42.
As Wal-Mart shares keep hitting record highs, Stifel Nicolaus says the stock will only head higher.That's about as topical as you can get: fiscal cliff, corn prices, the only thing missing are the death struggles of competitors Supervalue and Best Buy.
The firm upgrades Wal-Mart to buy from hold and sets an $83 price target on the retail giant, the highest estimate among Wall-Street analysts, according to FactSet. The upgrade comes ahead of Wal-Mart’s quarterly report, expected next week.
Wal-Mart shares were recently flat at $74.55. After more than a decade of trading around $50, shares are up 25% this year and last month hit fresh all-time highs....MUCH MORE
...Stifel’s Schick says Wal-Mart is in line to benefit from pressures on consumer confidence that are expected through the second half of the year. ”We see Wal-Mart as election and fiscal cliff resistant,” he says. Along with the potential for inflation amid surging corn prices, “this stagflation scenario…is the kind of environment which Wal-Mart thrives.”...
The writer gets to them later in the post.
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...I've mentioned that the 12 1/2 year base that WMT stock built before breaking above the Dec. 31, 1999 all-time closing high ($70.25) implied something on the order of a ten-fold up-move over the next decade.
I've also mentioned that I have no clue what kind of corporate developments could justify a $2.5 trillion market cap, although I guessed selling produce in the stores wouldn't be enough.
This may be part of the answer....