Walmart reinstated with a Buy at BofA

BofA reinstated coverage of Walmart (WMT) with a Buy rating and $150 price target Walmart continues to gain share with upper income consumers through faster delivery offerings, while also serving lower income consumers with everyday low pricing, notes the analyst, who believes a continuation of consistent sales growth and an acceleration in profit growth should lead to further positive EPS revisions and allow the multiple to “grind higher.”