Time to buy Wal-Mart

Wal-Mart stock is near a multi-year low, yet the earnings keep growing. The stock now trades at a forward P/E of just 15 -- the lowest it's been in a decade and in-line with the S&P 500. That's a bargain for a consistent grower and cost leader like Wal-Mart.

I think Wal-Mart could be on the verge of a substantial, multi-year move up that will make $46 look like a ridiculously good entry point.

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