Walmart price target raised to $97 from $81 at Roth MKM

Roth MKM raised the firm’s price target on Walmart (WMT) to $97 from $81 and keeps a Buy rating on the shares after its Q3 earnings beat and guidance raise. The company is simultaneously investing in technology and infrastructure, gaining market share, and improving profitability, having morphed from a retailer competing primarily on value to a “rare retailer” that can win on value and convenience, the analyst tells investors in a research note. Walmart’s potent combination is driving new households, new demographics, and new opportunities, Roth MKM adds.