You'll want to watch your Wal-Mart stock today. JP Morgan has downgraded its rating on the retailer's shares, taking it to "neutral."
While the company has "successfully refocused on its core competencies and customers since 2010," analysts wrote in the note, "we believe the lift to sales will be more subdued vs. the low-hanging fruit of the initial turnaround."
Analysts lowered their price estimate on shares, and said the expiration of payroll tax relief will affect the company's core customers.
- Mobile-Payment Battle Brews Between Apple, Wal-Mart
- WSJ Looks at Crystal Bridges' 'State of the Art' Exhibit
- Report: Acxiom to Open Austin Office, Hire 150
- Natural Gas in Fayetteville Shale Takes Arkansas from Zero to Billions in 10 Years 24 hours ago
- West Little Rock Hosts $1.4M Boot City Buy (Real Deals) 24 hours ago
- John Rogers Asks for Dismissal of Brace Suit 24 hours ago
- Harvest Problems Crop Up in Turner Grain President's Bankruptcy Case 24 hours ago
- Mike Beebe Replaces Maggio Post, Names Others to Boards, Commission 14 hours ago