Walmart price target raised to $111 from $105 at Jefferies

Jefferies raised the firm’s price target on Walmart (WMT) to $111 from $105 and keeps a Buy rating on the shares. Historically, U.S. comp sales drive valuation, notes the analyst, who views Walmart as “well-positioned” to post mid-single digit percentage comp growth, citing share gains with higher-income customers, inflecting discretionary spending trends and growing alternative revenue streams. The firm, which calls out its target as “the Street high,” says Walmart remains one of its top ideas heading into 2025.