Thursday, March 12, 2009

Citigroup cuts Wal-Mart to hold

UPDATE 1-Citigroup cuts Wal-Mart to hold on card check concernsReuters
March 10 (Reuters) - Citigroup downgraded Wal-Mart Stores Inc (WMT.N) to "hold" from "buy" saying the proposed card check legislation would increase laborcosts and could be a significant drag to earnings for the world's largest retailer.

"We believe that WMT would be the primary target if EFCA/card check were to be passed," analyst Deborah Weinswig wrote in a note to clients.

Here it comes see my original post here.

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