Walmart: Jefferies still a buyer after meeting

(CercleFinance.com) - Jefferies reiterates its 'buy' recommendation on Walmart shares, with a target price raised from $85 to $90, the day after a meeting with executives of the world's number one retailer, including its head of investor relations.


Our conversation covered a myriad of topics, including Walmart's e-commerce business, the path to profitability in this segment and artificial intelligence (AI), the broker explains.

In particular, it reports that the group is not seeing weaker consumer spending overall, that food inflation has been a little more persistent, but is improving, and that Walmart is gaining share in general merchandise.


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