Analyst Corey Tarlowe of Jefferies maintained a Buy rating on Walmart (WMT – Research Report), retaining the price target of $120.00.
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Corey Tarlowe has given his Buy rating due to a combination of factors that highlight Walmart’s strong market position and growth potential. One of the key reasons is the company’s solid performance in the first quarter, with notable increases in net sales and comparable store sales at both Walmart US and Sam’s Club. The growth in transactions and average ticket size, particularly in the grocery and health and wellness sectors, demonstrates Walmart’s ability to attract and retain customers.
Additionally, Tarlowe appreciates Walmart’s strategic focus on maintaining its market share and driving omnichannel efficiencies. The company’s reiterated full-year guidance, despite a challenging macroeconomic environment, reflects confidence in its operational strategies and resilience against international sourcing challenges. While there are concerns about gross margin pressures and the lack of a specific profit outlook for the second quarter, the overall positive sales trajectory and strategic initiatives support the Buy recommendation.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $108.00 price target.
WMT’s price has also changed moderately for the past six months – from $84.250 to $96.350, which is a 14.36% increase.