KeyBanc analyst Bradley Thomas raised the firm’s price target on Walmart to $170 from $165 and keeps an Overweight rating on the shares. Walmart remains a favorite large-cap idea, based on defensiveness, market share gains in key categories, and the use of automation and AI in operations, the firm says. Over the next three to five years, KeyBanc believes the growth algorithm is improving based on the maturation of numerous growth initiatives and the automation of its supply chain. Taken together, the firm thinks the short- and long-term outlooks remain favorable.
Published first on TheFly
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