Walmart: Jefferies maintains buy rating, cuts target price
(CercleFinance.com) - Jefferies reinstates its "buy" rating on Walmart shares, although has reduced its target price for them from 175 dollars to 155 dollars, in the wake of its estimates for the retail giant following a quarterly release that it says surprised on several fronts.
While acknowledging that sales exceeded expectations and that market share gains are evident, the broker points to the notable level of inflation - both achieved and to come - and questions the change in consumer behaviour as a result.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
While acknowledging that sales exceeded expectations and that market share gains are evident, the broker points to the notable level of inflation - both achieved and to come - and questions the change in consumer behaviour as a result.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.