Walmart price target raised to $110 from $100 at Oppenheimer

Oppenheimer raised the firm’s price target on Walmart (WMT) to $110 from $100 and keeps an Outperform rating on the shares ahead of quarterly results. The firm notes shares are now up 9% year-to-date easily outperforming a 5% decline in the S&P 500. Following major outperformance lately and Oppenheimer’s expectations for a subdued Q1 delivery, consistent with the company’s last public commentary, the firm sees a less favorable risk/reward on the print. As a result, it would again be positioned to take advantage of weakness on the upcoming print vs. playing for a positive catalyst.