(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its target price of 190 dollars on Walmart, while according to him, the distribution giant would reduce the starting salary for some of its new hires.
“This movement helps to allow greater flexibility of the staff, but we do not believe that this change will have a significant impact on the wage bill”, estimates the broker in the summary of its research note.
However, Jefferies sees the news, which concerns the largest private employer in the United States, as a sign that tensions are easing more generally in the American labor market, and that it is becoming more favorable to employers.
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