Walmart price target raised to $100 from $90 at Baird

Baird raised the firm’s price target on Walmart (WMT) to $100 from $90 and keeps an Outperform rating on the shares. The company reported “another impressive” quarter with stronger sales results and solid flow-through yielding 8% adjusted earnings upside versus consensus, the analyst tells investors in a research note. The firm says “robust” digital growth and scaling higher-margin revenue streams are allowing Walmart to strategically reinvest in prices, wages and automation to drive traffic-led share gains across key categories and income demographics.