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Walmart: Jefferies maintains 'buy' rating

( - Jefferies on Friday maintained its "buy" rating on the Walmart share, with a target price of 137 dollars, saying that the US retailer remains a "core long-term holding".

Better-than-expected third-quarter results were good enough to fuel an initial rally, although this later faded as the market digested weaker margins at Sam's Club and international business, the broker noted.

Despite these bumps, Walmart is still well-positioned for continued market share gains given its scale, its omni-channel capabilities, and its ability to innovate, Jefferies said.

Note that the share is trading at a peak that has not been seen for more than 15 years, but valuation is justified given momentum and the retailer's core earnings expansion visibility, it added.

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