by Lance Turner
Posted 2/4/2013 08:17 am
Updated 1 year ago
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.