Truist remains ‘aggressive’ buyer of Walmart after Q4 results

Truist analyst Scot Ciccarelli reiterated a Buy rating and $111 price target on Walmart (WMT), saying the company’s Q4 results topped off a “strong” year, modestly beating elevated expectations. While the initial guide is below the firm’s and Wall Street’s estimates, it is impacted by about 10c of discreet items, resulting in an initial “core” projection of roughly 5%-7% growth, the analyst tells investors in a research note. The firm added that Walmart has exceeded early-year forecasts each of the last two years, and the it remains an “aggressive” buyer of the shares.