Morgan Stanley said the firm’s latest survey work points to Walmart+ having 18.4M members, or 14.3% U.S. household penetration, which is "modestly higher" than its prior survey and close to the record high of 18.6M members recorded in the firm’s September 2022 survey. Based on the firm’s analysis of the number of actual members plus the number of respondents stating they are "very likely" to subscribe to Walmart+, the firm sees more growth ahead, the analyst tells investors. Morgan Stanley has an Overweight rating and $160 price target on Walmart shares.
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