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Jefferies Raises Walmart Price Target to $75, Maintains Strong Buy Rating

By Don Francis, Editor
May 18, 2024 10:01 AM UTC
Jefferies Raises Walmart Price Target to $75, Maintains Strong Buy Rating

Jefferies's Corey Tarlowe raised their price target on Walmart (NYSE: WMT) by 7.1% from $70 to $75 on 2024/05/17. The analyst maintained their Strong Buy rating on the stock.

Tarlowe's rating and price target revision came after Walmart reported its Q1 2025 earnings on May 16, 2024. The retail giant delivered "strong" top- and bottom-line beats driven by "healthy" same-store sales growth, according to Tarlowe. Additionally, Walmart's management raised its FY 2025 guidance, further bolstering the analyst's positive outlook.

Jefferies continues to believe in the growth potential of Walmart, with Tarlowe stating, "We continue to believe that AI and automation can drive meaningful sales, profit, and multiple upside ahead."

Following Jefferies's rating update, other analysts also revised their ratings and price targets for Walmart on May 17, 2024:

- Mark Astrachan from Stifel Nicolaus raised their price target by 6.2%, from $65 to $69, and maintained their Hold rating on the stock. - Scot Ciccarelli from Truist Securities raised their price target by 6.7%, from $60 to $64, and maintained their Hold rating on the stock. - Bradley Thomas from KeyBanc raised their price target by 19%, from $63 to $75, and maintained their Strong Buy rating on the stock.

Currently, 87.5% of top-rated analysts rate Walmart as a Strong Buy or Buy, while 12.5% see it as a Hold. No analysts recommend or strongly recommend selling the stock.

Analysts have forecasted that Walmart's upcoming year will deliver earnings per share (EPS) of $2.17. If their predictions hold true, Walmart's next yearly EPS would see a 13.2% increase on a year-over-year basis.

From January 31, 2024, to the present, Walmart's stock price has risen by 17.4%. On a year-over-year basis, the stock has experienced a growth of 29.7%. This performance outpaces the broader market, with Walmart surpassing the 27.5% increase in the S&P 500 during the same period.

Corey Tarlowe, the Jefferies analyst who raised Walmart's price target, is ranked in the top 13% of Wall Street analysts by WallStreetZen. With an average return of 16.1% and a 58.6% win rate, Tarlowe specializes in the Consumer Defensive and Consumer Cyclical sectors.

Walmart Incorporated operates various retail, wholesale, and other units in the U.S. and internationally through its three segments: Walmart U.S., Walmart International, and Sam's Club. Its operations include supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, membership-only warehouse clubs, and e-commerce websites. The company, founded in 1945, is headquartered in Bentonville, AR.

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