Benzinga - Walmart (NYSE:WMT) Inc (NYSE: WMT) reported better-than-expected Q3 results and raised its outlook.
Walmart reported third-quarter FY23 sales growth of 8.7% year-on-year to $152.81 billion, beating the consensus of $147.51 billion. Adjusted EPS was $1.50, beating the consensus of $1.32.
For FY23, the company currently expects Adjusted EPS to decline 6.0% - 7.0% (prior view decline 9.0%-11.0%). Excluding divestitures, adjusted EPS decline of 5.0%-6.0% (previous view decline 8.0%-10.0%). It expects FY23 consolidated net sales growth to be about 5.5% (prior view 4.5%).
Walmart shares jumped 6.5% to close at $147.44 on Tuesday.
These analysts made changes to their price targets on Walmart following the release of quarterly results.
- Telsey Advisory Group increased the price target on the stock from $160 to $165. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating on the stock.
- Keybanc boosted Walmart price target from $155 to $165. Keybanc analyst Bradley Thomas maintained an Overweight rating on the stock.
- Raymond James raised the price target on Walmart from $150 to $160. Raymond James analyst Bobby Griffin maintained an Outperform rating on the stock.
- BMO Capital raised the price target on Walmart from $160 to $165. BMO Capital analyst Kelly Bania maintained the stock with an Outperform.
- RBC Capital boosted the price target on Walmart from $151 to $163. RBC Capital analyst Steven Shemesh maintained the stock with an Outperform.
- B of A Securities raised the price target on Walmart from $155 to $165. B of A Securities analyst Robert Ohmes maintained the stock with a Buy.
- Stifel boosted the price target on Walmart from $149 to $157. Stifel analyst Mark Astrachan maintained a Hold rating on the stock.
- Cowen & Co. increased the Walmart price target from $165 to $175. Cowen & Co. analyst Oliver Chen maintained an Outperform rating on the stock.
- Deutsche Bank (ETR:DBKGn) raised Walmart price target from $161 to $168. Deutsche Bank analyst Krisztina Katai maintained the stock with a Buy rating.
- UBS increased the price target on Walmart from $158 to $170. UBS analyst Michael Lasser maintained the stock with a Buy.
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