Walmart price target raised to $140 from $125 at Oppenheimer

Oppenheimer analyst Rupesh Parikh raised the firm’s price target on Walmart (WMT) to $140 from $125 and keeps an Outperform rating on the shares ahead of quarterly results. The firm is lifting its Q4 EPS estimate toward the high end of management’s guidance range reflecting our expectations for a strong holiday season, top-line momentum across the enterprise, and potentially some modest weather benefits. Regarding initial FY26 guidance, Oppenheimer still expects management to “only” guide consistent with the company’s algorithm for 4% sales growth and 4%-8% operating income growth. This is below the current Street figure for 11.3% operating growth. As a result, the firm still would be positioned for any potential dip vs. playing for a positive catalyst. Walmart remains a top pick at Oppenheimer.