Walmart price target raised to $168 from $166 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Walmart to $168 from $166 but keeps a Hold rating on the shares. The company’s Q2 results were “very strong” with sales and earnings exceeding expectations due to continued share gains and same SKU inflation in Grocery, the analyst tells investors in a research note. Walmart ‘s value and convenience proposition continue to drive wallet share, while automation and ancillary businesses such as advertising and third-party marketplace boost its margins, the firm notes. Truist adds however that a lot of positives are already discounted in the stock, and the firm will seek “better entry points”.