RBC Capital lowered the firm’s price target on Walmart to $160 from $163 but keeps an Outperform rating on the shares. The company’s Q4 results were "strong", but its outlook reflects a "more cautious" consumer outlook, the analyst tells investors in a research note. The firm added that Walmart management is being "appropriately prudent", which makes for a better setup on the stock going forward. Walmart is also gaining share across income cohorts, which should be a "positive" for the company though somewhat concerning for the broader economy, RBC Capital noted.
Published first on TheFly
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