Walmart price target raised to $72 from $70 at Evercore ISI

Evercore ISI raised the firm’s price target on Walmart to $72 from $70 and keeps an Outperform rating on the shares. With business mix potential from higher margin ancillary profit streams such as advertising, membership, and third-party, as well as efficiency traction evident, the “stage is set for sustained share gain and outsized profit growth,” but with the stock up 25% year-to-date, sustaining traffic momentum, accelerating margin expansion, and managing inflationary headwinds are critical for Walmart to continue outperforming, the analyst tells investors.