Walmart price target raised to $82 from $75 at KeyBanc

KeyBanc raised the firm’s price target on Walmart to $82 from $75 and keeps an Overweight rating on the shares after holding two days of investor meetings with senior management and investor relations in Bentonville, AR. The firm came away incrementally positive on the breadth of the company’s initiatives. Fundamentally, Walmart continues to gain share in grocery, e-commerce, and general merchandise, as it expands its value proposition across income cohorts through its marketplace, delivery, and merchandising initiatives, the firm adds. For these reasons, KeyBanc says Walmart remains one of its top ideas on short-, medium-, and long-term outlooks.