Walmart price target raised to $69 from $63 at UBS

UBS analyst Michael Lasser raised the firm’s price target on Walmart to $69 from $63 and keeps a Buy rating on the shares. The firm thinks Walmart generated good momentum in Q1 despite the volatile spending backdrop throughout the period, the noise created by an earlier Easter, and the ongoing headwinds facing the consumer, especially lower income households, the analyst tells investors in a research note. UBS thinks the quarter will “check the boxes” and show that Walmart’s investment case stands out, that the company will show that the retailer continues to gain share, domestically and abroad, and that the stock has room to run.