Piper Sandler analyst Edward Yruma last night upgraded Walmart to Overweight from Neutral with a price target of $210, up from $145. As grocery inflation subsides, Walmart has an opportunity to further extend market share gains, the analyst tells investors in a research note. The firm says a gradual intensification of promotions augurs well for Walmart given its “sharp focus on price.” In addition, the turnaround at Sam’s Club remains underappreciated, contends Piper.
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