Stifel analyst Mark Astrachan raised the firm’s price target on Walmart to $161 from $157 and keeps a Hold rating on the shares. Stifel views the company’s longer-term targets as reasonable, specifically with stronger profit growth expected to begin in FY25 and modest upside to FY24 guidance. Further, the firm believes technology investments in the supply chain and automation should drive considerable cost efficiencies in time. Stifel comes away with a more favorable view of Walmart shares.
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Published first on TheFly
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