Walmart: Jefferies ups target price after results

(CercleFinance.com) - Jefferies reinstates its "buy" rating on Walmart shares, having raised its target price for them to 175 dollars (from 165 dollars), after a strong quarterly report, "with robust sales across segments, driving better than expected earnings".


The broker said "the business is off to a strong start in Q4".

"Looking ahead, improving inventory, scaling the advertising business, and gaining share with high-income households provide upside for WMT shares ahead," Jefferies said.

Closing flat yesterday, the share is actually down slightly (-0.8%) in pre-market trading today.


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