BofA analyst Robert Ohmes raised the firm’s price target on Walmart to $95 from $85 and keeps a Buy rating on the shares. After having toured a Walmart Supercenter in Charlotte with the company’s head of IR and SVP of Operations, the analyst says the tour highlighted continued strength in grocery as the company continues to grow share and attract new customers. The firm has raised the multiple it applies to its estimates as it argues that Walmart’s focus on value, convenience and assortment enhancements continue supporting share gains across incomes and product categories.
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