Evercore adjusts Walmart price target, removes from ‘Tactical Underperform’ list

Evercore ISI adjusted the firm’s price target on Walmart to $65 from $182 to account for the company’s split and keeps an Outperform rating on the shares, which the firm has also removed from its “Tactical Underperform” list. Walmart is winning customers, expanding margin and investing to widen their competitive moat, says the analyst, who believes the convenience of omnichannel, tech powered business mix, and automation are “lined up to drive acceleration.”