Simeon Gutman, an analyst from Morgan Stanley, maintained the Buy rating on Walmart. The associated price target remains the same with $115.00.
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Simeon Gutman has given his Buy rating due to a combination of factors that highlight Walmart’s strong performance and strategic leadership. Under the tenure of outgoing CEO Doug McMillon, Walmart has experienced significant growth, with revenue increasing by 43% and adjusted EPS by 47%. This period also saw the company’s transformation into a leading eCommerce player, which has been crucial in maintaining its competitive edge.
Gutman also expresses confidence in the incoming CEO, John Furner, who is seen as a natural successor with a strategic mindset similar to McMillon’s. Furner’s extensive experience within Walmart, including leadership roles in the U.S. and China, positions him well to continue driving the company’s success. This seamless leadership transition, combined with Walmart’s robust growth metrics, underpins Gutman’s positive outlook and Buy rating for the stock.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $111.00 price target.