Evercore ISI analyst Greg Melich raised the firm’s price target on Walmart (WMT) to $94 from $89 and keeps an Outperform rating on the shares. Walmart’s Q3 report “showcased the power of an omnichannel flywheel kicking into overdrive,” says the analyst, who thinks the digital unlock “appears in its early stages” as Walmart Plus membership grows double-digits, share gains are coming with new demographic cohorts, and third-party grows over 40%. Walmart is now gaining traffic, margin, stickier customers and ROI in a mixed macro world, the analyst added.
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Read More on WMT:
- Walmart price target raised to $89 from $85 at Stifel
- Walmart price target raised to $100 from $92 at UBS
- Walmart price target raised to $105 from $100 at Jefferies
- Citi downgrades Target to Neutral after ‘very poor results’
- Walmart price target raised to $97 from $81 at Roth MKM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
