Analyst Edward Kelly of Wells Fargo maintained a Buy rating on Walmart (WMT – Research Report), retaining the price target of $108.00.
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Edward Kelly has given his Buy rating due to a combination of factors surrounding Walmart’s performance and strategic positioning. Despite the high expectations set by the market, Walmart delivered a robust quarter, showing notable share gains and margin growth. This success is attributed to multi-year investments in value, experience, and convenience, which have resonated well with a broad range of consumers. The company continues to gain market share both in-store and online, highlighting its competitive strength.
Furthermore, Walmart’s guidance, although conservative in the eyes of some, points towards sustained growth, with anticipated sales and earnings increases. The company’s ability to invest further while maintaining pricing discipline suggests a solid foundation for future growth. Edward Kelly believes that despite some short-term challenges, Walmart’s quality and strategic initiatives will ultimately attract investor support, justifying a Buy rating.
Kelly covers the Consumer Defensive sector, focusing on stocks such as Kroger Company, Walmart, and US Foods Holding. According to TipRanks, Kelly has an average return of 8.6% and a 63.44% success rate on recommended stocks.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $117.00 price target.