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Non-Tech : Wal-Mart
WMT 115.11+0.2%Dec 5 9:30 AM EST
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To: Ken Turetzky who started this subject4/24/2001 1:28:03 PM
From: SiouxPal   of 1166
 
11:03am 04/24/01 Goldman Sachs 'downshifts' retail stocks (HD, WMT) By Jennifer Waters
The bloom may be off the rose for retail stocks, according to a note put out Tuesday by Goldman Sachs analysts. Goldman was "downshifting" to a market weighting of retail stocks in balanced portfolios, a reverse of its January recommendation to load up on retail stocks. "The S&P Retail Index ($RLX) has outperformed the S&P 500 by 27 percentage points since September and 13 percentage points since January 19," according to the note. What's more, the relative price-to-earnings of high-quality retail growth stocks and of several "risky turnaround stocks" are well above their five-year averages. "Although retail stocks may continue to be viewed as a potential 'safe haven' from more troubled industrial sectors, we see limited upside for the group in general from current levels in the absence of a broader market move forward," the analysts said. Unchanged, however, is Goldman's outlook for specialty retailers. Among the sector's heavyweights, Wal-Mart (WMT) is losing 2.2 percent to $50.92 and Home Depot (HD) is 1.7 percent lighter at $45.42. Wal-Mart is the top percentage loser among components of the Dow Industrials ($INDU) .
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