Walmart (WMT) is one of Wall Street’s top consumer stocks as demand for its value products as the cost-of-living crisis rises and it expands the use of technology, such as AI, across its operations.
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After a strong rally and solid growth, investors are now wondering how much more upside WMT stock still has. Looking ahead, analysts still rate WMT as a Strong Buy, with average upside potential of 6.26% at an average 12-month WMT price target of $138.81. Here’s what Wall Street is forecasting for WMT stock right now.
Wall Street’s Latest Take on WMT Stock
Michael Lasser, analyst at UBS, reiterated a Buy rating on Walmart and his price target of $147. Lasser said the Buy rating was down to a combination of factors mainly centered around the grocery company’s fast-growing “second P&L” businesses. This refers to areas such as its marketplace and advertising sections, which he said are still underappreciated by the market.
Simeon Gutman, analyst at Morgan Stanley recently raised his price target on Walmart to $140 from $135 and kept an Overweight rating on the shares. After having hosted meetings with management including President & CEO John Furner and EVP & CFO John David Rainey, Gutman said Walmart benefits from scale and technology, adding that third-party marketplace and membership are “running strong.”
John Heinbockel, analyst at Guggenheim raised his price target to $137 from $120 and kept a Buy rating on the shares. He said that scale, mix, value perception, and operational intensity position Walmart well for the “macro-related schizophrenia that has seen the market ping-pong between risk-off and risk-on preferences over the past year.”
Who is the Best Analyst Covering WMT Stock?
Greg Melich of Evercore is the most accurate analyst covering WMT over the past three months. He has a success rate of 88% per trade and an average return of 8.68% over the last three months.
WMT Stock Performance
After gaining more than 31% over the past year, WMT stock has slowed down, rising 17% year-to-date. It has an average three-month trading volume of 18.44 million and a price to earnings ratio of 56.
