UBS Securities analyst Neil Currie today raised his 2009 and 2010 profit estimates for Wal-Mart (WMT) based on improving currency, costs and inflation trends, after meeting with the company’s CFO last week. Currie’s 2009 EPS estimate goes to $3.63 from $3.59, while 2010 goes to $4.00 from $3.90. Stronger revenue trends and a higher-than-expected share repurchase should offset higher general and administrative costs, Currie writes. Currie has a “Buy” rating on the stock and a $64 price target.
Wal-Mart shares this afternoon are up 3 cents at $54.70.
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