Walmart: Jefferies sees 200 dollar case for the shares

(CercleFinance.com) - Walmart shares rose on Friday following positive broker comments on the stock.


In a note to clients, Jefferies analysts - who have a "buy" rating on the stock - said the US retail giant is one of the "best-positioned for 2021 and beyond."

"We believe 2021 has the makings of a transformational year in a mid-term period of compounding value, supporting our 200 dollar upside price target," they wrote in their report.

Jefferies cited Walmart's proximity to consumers and its foray into a more comprehensive ecosystem thanks to omni-channel adoption. Also, the acquisition of TikTok should bolster the digital platform, loyalty, and shoppable content, it said.

Walmart shares were up 0.6% on Friday morning on the New York Stock Exchange.

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