Walmart: Jefferies maintains 'buy' rating, raises target
(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on the Walmart stock, having raised its corresponding target price from 120 dollars to 127 dollars, after quarterly results deemed "strong, despite sizable headwinds facing the industry - tariffs, recession fears, weather".
"Ongoing investments in pricing, mix, supply chain, and tech are widening the moat between WMT and its competition, positioning it well for continued market-share gains," the broker said.
Jefferies believes that the group's revised targets for the current year are "achievable" and that the share's valuation - although close to 15-year highs is "warranted given momentum and core EBIT % expansion visibility".
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