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Walmart's Price Target Raised by Analysts as Strong Q1 Results Drive Optimism

By Don Francis, Editor
May 18, 2024 10:01 AM UTC
Walmart's Price Target Raised by Analysts as Strong Q1 Results Drive Optimism

Telsey Advisory Group's Joe Feldman raised their price target on Walmart (NYSE: WMT) by 2.9% from $68 to $70 on 2024/05/17. The analyst maintained their Buy rating on the stock.

Feldman attributed Walmart's strong Q1 2025 earnings to the company's omnichannel model and execution, which resulted in continued market share gains. Looking ahead, the analyst expressed confidence in the company's business momentum, citing management's solid Q2 guidance and raised FY 2024 guidance. Feldman emphasized that their firm believes Walmart is executing well and expects the company to remain a leader and market share gainer in the retail industry.

In addition to Feldman's rating update, other analysts also revised their price targets for Walmart on May 17, 2024. Mark Astrachan from Stifel Nicolaus raised their price target by 6.2%, from $65 to $69, while maintaining a Hold rating on the stock. Scot Ciccarelli of Truist Securities increased their price target by 6.7%, from $60 to $64, and also maintained a Hold rating. Bradley Thomas of KeyBanc raised their price target by a significant 19%, from $63 to $75, and maintained a Strong Buy rating.

Currently, 87.5% of top-rated analysts consider Walmart as a Strong Buy or Buy, with 12.5% rating it as a Hold. No analysts are recommending selling the stock.

Analysts forecast that Walmart's upcoming year will deliver earnings per share (EPS) of $2.17, representing a 13.2% increase on a year-over-year basis if their predictions hold true.

Walmart's stock price has shown impressive growth since its last quarterly report on January 31, 2024. It has increased by 17.4% and is up 29.7% compared to the same period last year. During this time, Walmart has outperformed the S&P 500, which has seen a 27.5% increase.

Joe Feldman, the Telsey Advisory Group analyst who raised Walmart's price target, is recognized as one of the top Wall Street analysts by WallStreetZen. With an average return of 12.7% and a win rate of 58.5%, Feldman specializes in the Consumer Defensive, Industrials, and Consumer Cyclical sectors.

Walmart Incorporated, founded in 1945 and headquartered in Bentonville, AR, operates various retail, wholesale, and ecommerce businesses across the United States and internationally. The company's three segments include Walmart U.S., Walmart International, and Sam's Club. Walmart operates a wide range of stores and websites, including supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, and membership-only warehouse clubs.

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