Way to go, Democrats and President Obama: Carrying Big Labor’s water caused Wal-Mart’s stock to be downgraded: And it's only getting better Citigroup downgraded Wal-Mart Stores Inc (WMT.N) to “hold” from “buy” saying the proposed card check legislation would increase labor costs and could be a significant drag to earnings for the world’s largest retailer. “We believe that WMT would be the primary target if EFCA/card check were to be passed,” analyst Deborah Weinswig wrote in a note to clients. If theunions are successful, the company would have to concede higher wages formore seasoned employees, increase employee benefits significantly, and would experience diminished workforce flexibility, the analyst said. She cut her price target on the stock to $48 from $53. “Saving” the economy by strangling it. It’s the Obama way!