Walmart: Jefferies raises target price

(CercleFinance.com) - Jefferies reiterates its 'buy' recommendation on Walmart shares, raising its target price from $80 to $85, on the heels of a release that saw the retail giant significantly beat expectations in terms of profits, while raising its annual targets.


Like-for-like sales growth remains healthy, driven by the number of transactions and higher unit volume, the broker points out, adding that according to Walmart, its consumer has not shown weakness.

In addition, management highlighted the opportunity that generative AI represents for the company, Jefferies continues, adjusting its estimates to the upper end of the group's target ranges.


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