Following the termination of the planned merger of Kroger (KR) with Albertsons (ACI), BofA believes the federal/state court decisions against the merger on Tuesday following the FTC’s decision to challenge the merger in February imply a favorable long-term competitive environment for Walmart (WMT) in grocery as conventional supermarket peers are less likely to be able to achieve Walmart’s competitive scale through M&A. Following the news, BofA reaffirms a Buy rating and $105 price target on Walmart shares.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMT:
- Nasdaq’s (NDAQ) Diversity Rules Get Struck Down by Court
- Adobe outlook disappoints, Kroger announces $7.5B buyback: Morning Buzz
- Samsung accuses India’s CCI of unlawfully seizing data, Reuters reports
- Notable open interest changes for December 12th
- Dow Jones Finally Shakes Off UnitedHealth (UNH) CEO Assassination Backlash