With the holiday shopping season rapidly approaching—some eager beavers likely already have it part done—all eyes turn to retailers to see if we can keep the streak alive. And while signs of a blockbuster shopping season look thin on the ground this year, there are some positive signs. Walmart (NYSE:WMT) just landed a nod from Cowen, which may make it one of a few bright spots this season.
Walmart, based on word from analyst Oliver Chen, picked up the nod at Cowen thanks to its improved presence in food and discretionary goods. That was enough to give Walmart the edge over Target (NYSE:TGT), whose presence in food has been comparatively lighter than Walmart’s.
Though Target didn’t get the nod as a top pick, it still rates well; Chen has an Outperform rating on both stocks, with Walmart carrying a price target of $185 against Target’s $161.
Meanwhile, early word has emerged about Walmart’s Black Friday presence, and there should be quite a bit in the way of new deals to watch out for. In fact, current reports suggest deals on televisions and Apple (NASDAQ:AAPL) products will be on hand and in abundance, while gaming hardware and software alike should also boast plenty of discounts during the year’s biggest shopping season.
In fact, for the last few years, Walmart has started its Black Friday shopping season early, so some look for that trend to continue as online shopping has been stealing a lot of Black Friday’s thunder.
Is Walmart Stock a Hold or Sell?
Turning to Wall Street, analysts have a Strong Buy consensus rating on WMT stock based on 26 Buys and four Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average WMT price target of $179.82 per share implies 10.18% upside potential.
