#2 - Walmart (NYSE:WMT)
With the exception of a small dip in April 2024 has been a great year to own shares of Walmart Inc. (NYSE: WMT). The year started with a 3-for-1 stock split, a move the company made to make its shares more accessible to its employees. That’s worked out well with WMT stock up 32% for the year.
In its most recent earnings presentation, Walmart noted that low-income consumers were pulling back on discretionary spending. However, during a season when these consumers will be looking for the best (i.e. the lowest) prices, it’s likely that Walmart will be in the consideration set.
The company reports earnings on August 15, but several analysts are bullish on the stock already. Piper Sandler initiated coverage with an Overweight rating and a price target of $81. That’s more than 15% above the $71 consensus target. And since Piper Sandler issued its rating, the Walmart analyst forecast on MarketBeat show four more analysts have raised their price target for WMT stock.
About Walmart
Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.
Read More - Current Price
- $80.67
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 28 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $80.19 (0.6% Downside)
