On Friday, KeyBanc maintained its positive outlook on Walmart Inc. (NYSE:) shares, reiterating an “Overweight” rating and an $82.00 price target on the retail giant’s stock. The firm’s assessment follows Walmart’s report of impressive second-quarter results that exceeded market expectations due to widespread market share gains and strategic initiatives.
The company’s second-quarter comparable sales were well above consensus, confirming the positive trends KeyBanc observed in its checks and proprietary Key First Look (KFL) data. Walmart management emphasized that consumer trends remained stable throughout the quarter and continued into August.
Walmart has revised its 2024 forecast upward, reflecting strong performance in the first half of the year. The updated forecast calls for increases in revenue, operating income and earnings per share (EPS), all of which are expected to exceed previous estimates.
The KeyBanc analyst praised Walmart’s growth initiatives and the ongoing automation of its supply chain, which they believe make the retailer a standout investment opportunity in the retail sector. The company’s continued confidence in Walmart is based on the retailer’s attractive consumer offerings and multi-pronged growth strategies.
In other recent news, several financial firms have revised their forecasts for retail giant Walmart Inc.’s stock. TD Cowen raised its price target on Walmart to $85 and maintained a Buy rating. BMO Capital Markets reiterated its Outperform rating with a Steady price target of $80 after Walmart’s second-quarter fiscal 2025 earnings report highlighted the company’s e-commerce profitability and solid sales growth.
Piper Sandler also adjusted its outlook and increased the price target from $81 to $83, citing Walmart’s strong performance in the second quarter and the raised forecast for fiscal 2025. Baird also reiterated his positive outlook for Walmart, raising the price target from $70 to $82 and emphasizing that digital sales and high-margin revenue streams contributed significantly to the company’s successful second quarter.
Finally, RBC Capital updated its financial outlook on Walmart, increasing the price target from $74 to $80 while maintaining an Outperform rating. These adjustments reflect the firms’ positive views on Walmart’s recent performance and future earnings potential. These are recent developments that mark a promising trajectory for the retail giant.
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