Stifel raised the firm’s price target on Walmart to $73 from $71 and keeps a Hold rating on the shares. The firm’s survey shows U.S. consumer spending intentions remain positive but have weakened considerably over the last six weeks compared to year-to-date averages through late June. Stifel views the survey as continuing to favor those retailers gaining share, Walmart, where recent analysis shows has gained meaningful share of U.S. grocery purchases since 2019.
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