Walmart (WMT) Receives Price Target Increase and Strong Buy Rating from Roth MKM Analyst

By Don Francis, Editor
May 18, 2024 10:00 AM UTC
Walmart (WMT) Receives Price Target Increase and Strong Buy Rating from Roth MKM Analyst

Roth MKM's Bill Kirk raised their price target on Walmart (NYSE: WMT) by 2.9% from $69 to $71 on 2024/05/17. The analyst maintained their Strong Buy rating on the stock. Kirk believes that the combination of improved Walmart stores, a leading digital presence, and a rapidly growing advertising business is "dramatically separating" Walmart from traditional brick-and-mortar competitors. He added that Walmart's model is inflecting toward a more profitable, less volatile, wider-reaching ecosystem that uniquely positions the company to attack market share.

Following Walmart's Q1 2025 earnings report on May 16, several other analysts also updated their ratings and price targets on May 17. Mark Astrachan from Stifel Nicolaus raised their price target by 6.2% from $65 to $69, while maintaining their Hold rating on the stock. Scot Ciccarelli from Truist Securities increased the price target by 6.7% from $60 to $64 and also maintained their Hold rating. Bradley Thomas from KeyBanc raised the price target by a significant 19% from $63 to $75, and maintained their Strong Buy rating.

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.

The consensus forecast among analysts is that Walmart's upcoming year will deliver earnings per share (EPS) of $2.17. If the analysts' predictions hold true, Walmart's next yearly EPS will see a 13.2% increase on a year-over-year basis.

In terms of stock performance, since Walmart's last quarterly report on January 31, the stock price has risen by 17.4%. Year-over-year, the stock has gained 29.7%. Walmart's performance has outpaced the S&P 500, which has seen a 27.5% increase during the same period.

It's worth noting that Bill Kirk, the analyst from Roth MKM, is ranked by WallStreetZen in the bottom 9% out of 4,587 Wall Street analysts. Kirk has an average return of -5.1% and a 50% win rate. While this information provides context about the analyst's track record, it's important to evaluate their analysis based on the merits of their argument and supporting evidence.

Walmart Incorporated operates retail, wholesale, and other units in the U.S. and internationally through three segments: Walmart U.S., Walmart International, and Sam's Club. The company operates various types of stores, including supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, membership-only warehouse clubs, and ecommerce websites. Founded in 1945, Walmart is headquartered in Bentonville, AR.

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