'Walmart (WMT) Is a Must-Own for Growth Investors'; PT Raised at Truist Securities

Truist Securities analyst Scot Ciccarelli raised the price target on Walmart (NYSE: WMT) to $119.00 (from $109.00) while maintaining a Buy rating.

The analyst commented: "Strong results expected and delivered; share gains mounting and biz model continues to evolve; 3Q was another strong qtr, with US comp growth (ex-fuel) of +4.5%, +3.8% from Sam’s and +11% sls growth from Int’l in cc. E-comm continues to grow rapidly (+28% in the US) as the co’s “tech” focus pays dividends. Further, the co raised their CY25 guide due to strong 3Q results/expectations for 4Q. Margins remain solid and strong growth in alt rev streams (Advertising +53% with 33% in the US), should continue to drive incremental mrg expansion. While the stock has re-rated, we believe it is with good reason as the co is firing on all cylinders and we think WMT is a must-own for growth investors. Remain Buy, PT to $119 from $109."

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