Market Watchers Believe Wal-Mart Share Price Has Room To Run Higher

The past year has been a profitable one for Wal-Mart investors. Shares were trading around $68 in early January 2017, and accelerated in mid-November to the $100 per share threshold. This represents a one-year price increase of 47%.

On the expectations of a strong holiday season and recent tax reform bill which will lower corporate taxes for the retail giant shares rallied past the $100 mark to close at $101.61 earlier this week. Analysts said as Wal-Mart shares cleared the psychological resistance of $100, there is more room to run toward $110 and a longer-term upside target between $125 and $130 per share.

That rally has not begun as of yet. Shares retreated Wednesday (Jan. 10) to $99.67, down 72 cents. During the past 52 weeks the share price has ranged between $65.28 and $102.35.    MORE

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