Walmart price target raised to $94 from $89 at Evercore ISI

Evercore ISI analyst Greg Melich raised the firm’s price target on Walmart (WMT) to $94 from $89 and keeps an Outperform rating on the shares. Walmart’s Q3 report “showcased the power of an omnichannel flywheel kicking into overdrive,” says the analyst, who thinks the digital unlock “appears in its early stages” as Walmart Plus membership grows double-digits, share gains are coming with new demographic cohorts, and third-party grows over 40%. Walmart is now gaining traffic, margin, stickier customers and ROI in a mixed macro world, the analyst added.