RBC Capital analyst Steven Shemesh raised the firm’s price target on Walmart (WMT) to $126 from $123 and keeps an Outperform rating on the shares after meeting with its EVP of AI Acceleration, Product and Design. The tone and messaging remain constructive, and the firm continues to believe that Walmart is well-positioned to benefit from increased AI/agentic search adoption, the analyst tells investors in a research note. RBC is boosting its assumed forward earnings multiple to 38-times to reflect the “recent market strength”.
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