Walmart (WMT) PT Raised to $82 at Baird
Baird analyst Peter Benedict raised the price target on Walmart (NYSE: WMT) to $82.00 (from $70.00) while maintaining a Outperform rating.
The analyst commented: "With ~70% of U.S. comp growth digitally driven and >50% of enterprise-wide EBIT growth coming from higher margin advertising/membership income streams, WMT's business model and P&L transformations were on full display during 2Q. Shopping behavior has been "remarkably consistent," and growth is being led by transactions (not inflation), further underscoring WMT's share gains during this choppy macro environment. While "measured" guidance lags consensus, we sense an upward bias. Net, a combination of factors that support the stock's rising valuation profile. Reiterate Outperform with new $82 price target."