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Consumer Staples : Food & Staples Retailing | Large Cap Value
Company profile

Walmart Inc., formerly Wal-Mart Stores, Inc., is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam's Club. The Walmart U.S. segment includes the Company's mass merchant concept in the United States operating under the Walmart brands, as well as digital retail. The Walmart International segment consists of the Company's operations outside of the United States, including various retail Websites. The Sam's Club segment includes the warehouse membership clubs in the United States, as well as The Company operates approximately 11,600 stores under 59 banners in 28 countries and e-commerce Websites in 11 countries.

Closing Price
Day's Change
0.95 (0.66%)
B/A Size
Day's High
Day's Low
(Below Average)

10-day average volume:

Spotify stock falls after Guggenheim turns bearish

9:55 am ET June 29, 2020 (MarketWatch)

Shares of Spotify Technology SA (SPOT) are down 2.6% in Monday morning trading after Guggenheim analyst Michael Morris downgraded the stock to sell from neutral. While he sees comparisons to Netflix Inc. (NFLX), especially as Spotify dives deeper into original podcasts, Morris also worries that "the market is now pricing shares for blue-sky growth, which has made the risk-reward unattractive even as Spotify pursues attractive and achievable opportunities." He raised his price target to $223 from $170 in conjunction with the downgrade, a target change that he said was based on a 10% discount to his Netflix target valuation, blending 5 times 2024 estimates for net revenue and 19 times 2024 estimates for enterprise value to operating income before depreciation and amortization. "We expect investors to compare Spotify to Netflix in grounding valuation; however, we see the Netflix operating model as significantly more unique (global video product capability, >$80 billion to be invested in controlled video content over the next five years) and scalable (no variable label royalty payout), which is why we apply a discount for Spotify," Morris wrote. Spotify shares have more than doubled over the past three months as the S&P 500 has risen 18%.

-Emily Bary; 415-439-6400;

(END) Dow Jones Newswires

June 29, 2020 09:55 ET (13:55 GMT)

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