Telsey Advisory raised the firm’s price target on Walmart (WMT) to $118 from $115 and keeps an Outperform rating on the shares. Telsey expects Walmart will remain a market share gainer in the retail industry and is encouraged by the company’s expanded vision beyond retail and e-commerce, the analyst tells investors. The firm notes the company’s planned new businesses are more profitable than traditional retail, which should help the company grow its operating income faster.
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