Walmart price target raised to $98 from $89 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Walmart (WMT) to $98 from $89 and keeps a Buy rating on the shares. The company reported another beat-and-raise quarter driven by both Transaction and Ticket growth, the analyst tells investors in a research note. Walmart’s e-commerce is now about 18% of sales and generating about 60% of U.S. comp growth, Truist adds, also noting that the company’s higher-margin revenue streams are enabling it to reinvest in the business.