Walmart price target raised to $103 from $102 at RBC Capital

RBC Capital raised the firm’s price target on Walmart (WMT) to $103 from $102 and keeps an Outperform rating on the shares. Having attended the company’s Annual Associates & Shareholders Week meeting, the firm notes that the management’s tone and messaging was consistent with the Q1 earnings call in mid-May. The management shared that they’re working on an AI-enabled offering that will re-order core grocery items when they’re running low as the company is working to leverage AI to pair consumer purchase data + smart-fridge technology, the analyst tells investors in a research note.