Guggenheim raised the firm’s price target on Walmart (WMT) to $120 from $115 and keeps a Buy rating on the shares following the company’s “meaningful” top line-driven EBIT beat and raise. The firm expects above-algorithm growth during the next six months, mostly driven by accelerating International results and additional progress around U.S. e-commerce profitability, to drive multiple expansion, the analyst tells investors.
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