BofA lowered the firm’s price target on Walmart (WMT) to $144 from $150 and keeps a Buy rating on the shares. The firm lowered its multiple after earnings due to the more challenged consumer backdrop, but thinks share gains will accelerate with a price-conscious consumer, which “should drive a return to a beat/raise cycle assuming the freight environment doesn’t worsen.”
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMT:
- Walmart added to Analyst Focus List at JPMorgan
- Walmart Earnings Call: Digital Strength, Fuel Headwinds
- Kroger Stock (KR) Slides despite Plans to Go Head-to-Head with Amazon, Walmart, Costco
- Walmart Stock (WMT) Falls 7% After Its Latest Print. Blame the Consumer
- Mixed options sentiment in Wal-Mart with shares down 6.9%