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Non-Tech : Wal-Mart
WMT 102.95+0.5%3:59 PM EST

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To: Highway Jim who wrote (18)6/16/1997 11:40:00 PM
From: Jack L. Dlugach   of 1166
 
Last analyst I heard talking about WMT says 35 to 37; except for
that one stumble two Christmases ago, this outfit appears to be right
on track to keep growing steadily--we intend to keep WMT for a long
time yet as, really, there isn't much else out there that looks this
steady and safe at current prices. The p/e is a little rich but if
you look at the overall market WMT doesn't look too expensive yet. As
BW pointed out, WMT made some mistakes in the early foreign expansion
but now they've got their sea legs and lots of room to grow all over
the planet. Also, even though they say Wal-Mart doesn't have much
more growth in the USA, I don't see a lot of them in urban areas and
it seems that might be another good growth area for them.

Lastly, if you've ever contacted Wal-Mart's corporate headquarters,
you'll find they're one of the most shareholder-friendly companies
you could ask for so that's also a plus in our book.
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