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Non-Tech : Wal-Mart
WMT 102.48-0.1%Nov 14 9:30 AM EST
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To: Ken Turetzky who wrote (76)7/13/1997 2:36:00 PM
From: Jack L. Dlugach   of 1166
 
Ken: We may see another new high after people read the current
Barron's:

PROVEN PERFORMERS--Nowadays investors reward companies with consistent
earnings growth. WMT is listed as one of the 25 big caps that "boast
remarkably consistent earnings growth. At a recent price of 35, the
earnings consistency is 96.8, P/E going forward based on IBES estimates is 21.7, Earnings growth past 10 years is 21% and next 5 is
estimated at 13% giving it a P/E to Growth of 1.7 which is in the
middle of the 25 listed big caps. Stock performance for 1997 at the
price of 35 is plus 53.9% making it the #1 star of the Dow.

The stock doesn't sound so bad looking at the fundamentals; that 13%
growth compounding on this company's huge cash flow is pretty impressive, I'd say. Anyway, I'd already decided to stay very long
on WMT so this makes me feel a little bit easier--I've got plenty of
company. BTW, let's not forget the Index Funds have to keep buying
the stock and that'll support it too.

Full story P.24 or at barrons.com
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