Walmart Stock Forecast: Trending Bullish Among Top Analysts

Walmart (WMT) stock has risen 3.1% over the past week, 3.8% over the past month, and an impressive 33.7% over the last 12 months. Wall Street’s analysts are strongly bullish, forecasting further upside over the next twelve months with an average price target of $138.81 versus a last close of $131.60.

Michael Lasser of UBS reiterated his Buy rating on WMT on 5/4/2026 and set a price target of $147.00, implying meaningful upside from current levels. Lasser argues that the market still underestimates the long-term impact of Walmart’s fast-growing “2nd P&L,” which is reshaping the company’s financial profile and has already driven a significant revaluation of the shares.

This “2nd P&L” includes higher-margin businesses such as marketplace services and advertising that could, in Lasser’s view, eventually become the majority of Walmart’s earnings. He compares Walmart’s opportunity to Amazon’s trajectory, noting that Amazon’s 3P marketplace and advertising revenue are still many times larger, suggesting Walmart has ample runway to grow at its current pace or even faster.

Lasser forecasts that Walmart’s total enterprise-wide EBIT could rise from about $29.5 billion in 2025 to roughly $53.7 billion by 2030, with the 2nd P&L alone jumping from $8.5 billion to $30.2 billion over the same period. He believes this will give Walmart significant flexibility, allowing it both to reinvest $8–10 billion of profit back into the business each year and to steadily expand operating margins.

By 2030, Lasser’s base case assumes Walmart can lift its operating margin to around 6.5%, with potential to reach roughly 8% by 2035 as these new revenue streams scale. This N-star analyst ranks 289 out of 12,175 on TipRanks, with a 64.85% success rate and a 14.60% average return per rating. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.