Gordon Haskett upgrades Walmart to Accumulate on price leadership

Gordon Haskett analyst Chuck Grom upgraded Walmart to Accumulate from Hold with a price target of $155, up from $145. The analyst expects Walmart to see benefits from continued sales tailwinds and improving margin flow through as peak cost pressures ease. The company has a "host of high-margin ancillary initiatives that provide added financial flexibility," the analyst tells investors in a research note. The firm says Walmart’s price leadership positions it well to gain market share in a softer macro environment with benefits from accelerating trade down activity.