Walmart price target raised to $120 from $98 at Citi

Citi raised the firm’s price target on Walmart (WMT) to $120 from $98 and keeps a Buy rating on the shares. The firm expects the company’s Q4 earnings to beat consensus estimates and guidance. Citi models reported net sales up 3.9% verses the consensus of up 3.8%. Following management’s positive tone at ICR Conference, Citi believes Walmart’s holiday was strong, the analyst tells investors in a research note. The firm expects confidence in the company’s price gaps and its ability to gain share in the current environment.