Movement Alert|Wal-Mart Falls 3.05% in Regular Trading, Mizuho Cuts Target Price Amid Broad Sector Decline

Market Focus
Jul 31

On July 31, Wal-Mart fell 3.05% in regular trading, trading at 110.65 USD/share, with turnover of $1.447 billion.

On the news front, Mizuho recently lowered its price target on Wal-Mart to $130 from $137, while maintaining its Outperform rating. The average analyst price target stands at $139.93 according to FactSet. Additionally, a JPMorgan report indicated that Amazon has surpassed Wal-Mart as the largest U.S. retailer by gross merchandise value, marking a symbolic shift in the retail landscape. Concerns over an intensifying food and grocery price war further weighed on sentiment, as Wal-Mart had launched aggressive summer markdowns across thousands of items in early July.

Within the Hypermarkets & Super Centers sector, the overall sector exhibited broad weakness. Among individual stocks, Costco down 2.34%, BJ's Wholesale Club down 2.10%, Target down 1.43%, Dollar General down 1.10%, Dollar Tree down 0.42%. Wal-Mart shares have now fallen over 20% from their 52-week high set in mid-May.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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