WMT: Buying Again

Yesterday, we added Walmart (WMT) back into our Real Time Alerts after the selloff. The decline can be blamed on the perception that earnings were weak combined with the slew of Foreign Corrupt Practices Act violations the company is facing globally. We think concerns will blow over and the stock is close to its TAIL line of support at $66.12 a share. There’s plenty of room for upside for WMT and we’re buyers. The FCPA violations will amount to tens of millions or maybe even a hundred million bucks. For a company like Walmart, this means nothing.

 

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