Walmart price target raised to $96 from $92 at RBC Capital

RBC Capital raised the firm’s price target on Walmart (WMT) to $96 from $92 and keeps an Outperform rating on the shares after its Q3 earnings beat, with the quarter “providing further evidence that the flywheel is in motion”. RBC notes that it sees a long runway of growth for Walmart’s alternative revenue and profit streams – including advertising, membership, and marketplace – which alongside a general merchandise acceleration should result in both healthy margin expansion and widening price gaps vs. peers, the analyst tells investors in a research note.