Walmart price target raised to $159 from $146 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Walmart to $159 from $146 but keeps a Hold rating on the shares. The analyst is positive on the company’s "favorable defensive positioning" and the potential acceleration in its earnings growth algo in 2024 and beyond, though the management’s recent investor meetings suggest that it is increasingly cautious in its view of the "consumer" and expects the sales mix shifts to weigh on profitability, Truist tells investors in a research note.