Evercore ISI upgraded Walmart to Outperform from In Line with a price target of $160, up from $145. The pivot to omnichannel, divesting of non-core assets and investments in productivity have positioned the company for traffic and margin upside over the next two years, the analyst tells investors in a research note. Walmart’s traffic turn "appears to be building" with consumers across the demographic spectrum making wallet allocation choices, the firm contends.
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