Walmart (WMT) PT Raised to $81 at Roth/MKM

Roth/MKM analyst Bill Kirk raised the price target on Walmart (NYSE: WMT) to $81.00 (from $71.00) while maintaining a Buy rating.

The analyst comments "Traditionally, Walmart competed primarily on value, but increased e-commerce adoption and investment now allows Walmart to compete on the equally important, and previously unavailable, dimension of convenience. This incremental proposition (together the dynamic duo of grocery) is driving new households, new demographics, and new opportunities. Walmart's margins are expanding, even as it has dramatically increased capital spend (especially relative to competitors). We reiterate Buy and raise our PT to $81 (from $71)."

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