Changes at Wal-Mart impress Cowen analysts at annual meeting

|By:, SA News Editor

Analysts weigh in on Wal-Mart's (WMT +0.6%) investor day, with many saying they are impressed by the company's strategy for taking on Amazon and other online retailers.

Cowen analysts like "management's desire and understanding of how to transition WMT to a leading 21st century retailer" and the details into new initiative to provide discounts on items ordered online and picked up in store, calling it "a win for both the retailer and its customers, as WMT is able to significantly lower shipping expenses given 70%-80% of total shipping costs are incurred in the last mile, and pass on the savings to customers."

But Wells Fargo reiterates its Market Perform rating on the stock, saying WMT's "evolution appears to have legs" but that valuation is getting a bit frothy.

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