Wall Street Strategies Reiterates Sell On Wal-Mart, Again

Wall Street Strategies is reiterating its Sell rating and $50 price target on shares of Wal-Mart (NYSE: WMT).

In a note to clients, Wall Street Strategies writes, "For a retail giant (or legend, pick your term) that is basically everywhere in the U.S. and is making strong inroads into the international scene, Wal-Mart's (WMT) stock price has been anything but fresh and easy for an investor's portfolio. Since peaking at a 52-week high on January 28, Wal-Mart has shed 7.4% compared to the S&P 500 notching a gain of 2.8%. Zeroing in on the here and now, the S&P 500 is up approximately 3.5% from the short-term June 23 closing bottom; Wal-Mart is up an underperforming 2.8%. Keep in mind this is despite a massive $15 billion share repurchase program looming over the earnings line like a thundershower on a 105 degree day."

Shares of WMT are down 2 cents to $53.61.