Walmart on Monday launched a new free return pickup service – Carrier Pickup by FedEx – in an effort to take the hassle out of holiday season gift returns.
By using the new service, Walmart’s (WMT) customers will be able to schedule a return for products bought online. The service is available via the company’s website and its app.
Customers can select the pickup either from their home or they can choose the drop off at FedEx and then carry the package to any FedEx location. Walmart’s Linne Fulcher said in a blog that the service would continue beyond the holiday season. (See WMT stock analysis on TipRanks)
Fulcher added, “The holidays are stressful enough. No matter how customers buy items we want the returns experience to be easy, safe and seamless. We’re proud of the changes we’re making to take some of the stress – and those unwanted Christmas sweaters – off our customers’ backs.”
On Dec. 21, RBC Capital analyst Scot Ciccarelli upgraded WMT stock to Buy from Hold and raised the price target to $170 (16.5% upside potential) from $153. Ciccarelli said that Walmart’s size, robust e-commerce channel, its ability to offer value to customers, and improving profitability in the US all support the bull call.
Overall, the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 20 Buys and 4 Holds. The average price target stands at $163.11 and implies upside potential of about 11.7% to current levels. Shares have gained about 22.8% year-to-date.
Related News:
Apple Shuts California Stores Due To Rising COVID-19 Cases – Report
FedEx Distributes Moderna’s Covid-19 Vaccine; Street Sees 21% Upside
Nike’s Online Sales Fuel 2Q Beat; Shares Jump 5.6%
