- The shares of Walmart Inc (NYSE: WMT) have received a price target increase from $160 to $170 by Stephens. These are the details.
The shares of Walmart Inc (NYSE: WMT) have received a price target increase from $160 to $170 by Stephens. And Stephens analyst Ben Bienvenu is maintaining an “Overweight” rating on the company shares.
Bienvenu feels that Walmart benefitted less than its peers from COVID. And Walmart has been proactive in investing in the business in order to remain competitive. Plus Walmart has to scale in order to temper cost inflation. For the quarter, Bienvenu believes Walmart will deliver solid results.
Back in February, Walmart said it was planning to spend nearly $14 billion on capital investments such as supply chain enhancements and increased automation — which is expected to drive long-term sales growth.
Analysts at Bank of America said that Walmart’s U.S. sales growth could outpace Amazon’s total online stores’ growth due to added merchandise, same-day delivery, and pickup. The analysts believe that Walmart’s omnichannel transformation in the U.S. could continue “to gain momentum and support more sustainable and predictable positive same-store sales and traffic at U.S. Supercenters and U.S. e-commerce and GMV growth that should support P/E multiple expansion.”
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