Stifel raised the firm’s price target on Walmart to $167 from $163 and keeps a Hold rating on the shares. Stifel’s customer survey shows positive spending intentions for the fourth consecutive period through early-August, and accelerating sequentially from July, the analyst tells investors in a research note. The firm anticipates Walmart will report Q2 comp growth and EPS modestly ahead of consensus, reflecting ongoing grocery share gains and pass-through of inflation based pricing offsetting modest weakness in discretionary categories.
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