Wal-Mart's rating cut; Federated's upgraded

Chicago — Two major retailers, Wal-Mart Stores Inc. and Federated Department Stores Inc., saw JP Morgan retail analyst Shari Eberts change her investment ratings on their respective stocks.

Wal-Mart saw its rating downgraded to "long-term buy" from "buy", due to valuation.

"We continue to like Wal-Mart's long-term fundamental and strategic position in the retail sector and consider it a core long-term holding in the group," Eberts wrote in a research note. Wal-Mart hit the firm's target price of $58 a share.

Meanwhile, Eberts raised her rating on Federated Department Stores Inc. to long-term buy" from "market performer," saying the department store was poised for improved earnings in 2002. Federated has a 12-month price target of $48 a share.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!