Morgan Stanley says survey suggests Walmart+ members at highest level since 2020

Morgan Stanley reports that the firm’s latest AlphaWise Consumer Pulse Survey suggests Walmart+ has about 21.5M members, which is the highest level since 2020. On an adjusted basis, the firm estimates the 21.5M members translates into about 14M “actual” members when accounting for likely overcounting among survey respondents, or about 11% U.S. household penetration, notes the analyst, who has an Overweight rating and $75 price target on Walmart shares.