Walmart price target raised to $94 from $89 at Stifel

Stifel raised the firm’s price target on Walmart (WMT) to $94 from $89 and keeps a Hold rating on the shares. The firm’s consumer survey work shows U.S. consumer spending intentions remain positive, having accelerated sequentially in early December, and also showed improved Holiday 2024 spending intentions, the analyst tells investors. From a stock perspective, the survey continues to favor Costco (COST) and Walmart, where previous analysis shows each having gained meaningful share of U.S. grocery purchases since 2019, though the firm also views improving discretionary spending as favorable for Target (TGT), the analyst tells investors.