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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMT:
- Walmart price target raised to $123 from $111 at Piper Sandler
- Walmart price target raised to $125 from $115 at Morgan Stanley
- Walmart’s Strategic Evolution: A Buy Rating Amidst Leadership Transition and Tech-Driven Growth
- Walmart price target raised to $120 from $110 at KeyBanc
- Walmart price target raised to $122 from $118 at Bernstein