Mizuho ups Walmart target, drops from Top Picks list

Mizuho analyst David Bellinger raised the firm’s price target on Walmart to $125 from $115 and keeps an Outperform rating on the shares. The firm adjusted ratings and price targets in the retailing broadlines and hardlines consumer internet space as part of its 2026 outlook. The group enters 2026 with “signs of strained consumer sentiment, although the key underpinnings of spending are still very much intact,” the analyst tells investors in a research note. Mizuho installed Chewy (CHWY) as its overall Top Pick, and dropped Walmart (WMT), Lowe’s (LOW), and O’Reilly (ORLY) off of its Top Picks list.