Walmart price target raised to $71 from $69 at Stifel

Stifel analyst Mark Astrachan raised the firm’s price target on Walmart (WMT) to $71 from $69 and keeps a Hold rating on the shares. The firm’s analysis of U.S. scanner data shows Amazon (AMZN), Costco (COST) and Walmart accelerating U.S. grocery share gains since 2019, the analyst tells investors. Amazon and Costco have accounted for 11% and 12%, respectively, of U.S. grocery category dollar growth from 2019-2023, while Walmart with Sam’s accounted for 40% of category growth from 2020-2023, the firm’s analysis shows.