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Upgrade Alert for Wal-Mart Stores (WMT)

By David Diaz

Wal-Mart Stores (NYSE:WMT) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $71.05 on volume of 9.0 million shares, above average daily volume of 6.6 million.

Over the past year, Wal-Mart Stores has traded in a range of $56.30 to $79.94 and closed yesterday at $71.05, 26% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

Based on a current price of $71.05, Wal-Mart Stores is currently 11.1% above its average consensus analyst price target of $63.17. The stock should find initial support at its 50-day moving average (MA) of $68.03 and further support at its 200-day MA of $64.80.

Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company's discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart's markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.

SmarTrend is monitoring the recent change of momentum in Wal-Mart Stores. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wal-Mart Stores in search of a potential trend change.

Keywords: analyst upgrades/downgrades wal-mart stores

Ticker(s): WMT