Walmart price target raised to $175 from $165 at Oppenheimer

Oppenheimer raised the firm’s price target on Walmart to $175 from $165 and keeps an Outperform rating on the shares ahead of quarterly results. The firm continues to see a strong case for outperformance, especially in a potentially more challenging retail backdrop amid moderating food inflation benefits, new student loan headwinds, and a continued consumer shift near-term toward services. For Q2, Oppenheimer expects another beat and guidance raise. Looking beyond this fiscal year, the firm is “increasingly confident” in Walmart’s ability to deliver a stronger bottom-line flow-through driven by an improving business mix, continued traction with digital efforts, and financial benefits from an aggressive investment agenda. Walmart remains a top pick at Oppenheimer.