BMO Capital lowered the firm’s price target on Walmart to $175 from $180 but keeps an Outperform rating on the shares. The company’s Q3 earnings beat and guidance raise fell short of the high expectations, particularly in the U.S. markets, the analyst tells investors in a research note. Walmart’s top line remains strong, but the management’s expectations for low-end of profitability growth was disappointing, the firm added. Continued strong traffic, along with e-commerce and advertising growth, were the “bright spots”, BMO states.
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