Wal-Mart Upgraded By Four Firms

Jun. 4.07 | About: Wal-Mart Stores, (WMT)

Hickey and Walters (Bespoke) submit: Wal-Mart (NYSE:WMT) was upgraded to a Buy this morning at four firms -- Morgan Stanley, JP Morgan, Wachovia and HSBC. The upgrades come after the company recently announced a share buyback of $15 billion.

Prior to today, all four of these firms had a Neutral rating on the stock for quite some time. Will the buyback announcement propel the stock higher, or are expectations now too high?

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