Bernstein raised the firm’s price target on Walmart (WMT) to $117 from $113 and keeps an Outperform rating on the shares. Walmart delivered mixed Q2 results, outperforming on the top line with 5.6% constant currency net sales growth but underperforming expectations with a 0.4% adjusted constant currency EBIT growth, the analyst tells investors in a research note. The firm believes WAlmart is on an improved earnings algorithm long-term.
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