Benzinga -
- UBS analyst Michael Lasser reiterated a Buy rating on Walmart Inc (NYSE: WMT) and a $168 price target.
- Walmart laid the foundation for the key messages likely showcased at this upcoming meeting long ago.
- Most likely, the company will reiterate its algorithm of a 4% topline growth and greater than 4% operating income growth, Lasser writes in a Thursday note titled "A Chance to Connect and Luminate."
- Also Read: Walmart Starts Making Inroads In Amazon's Forte By Transforming Business Model; Targets Affluent Customers
- The topline and operating income growth and capital returns should produce high single-digit to low double-digit total shareholder returns for the foreseeable future.
- Importantly, Lasser thinks it will be able to produce this formula at the same time that it invests.
- Its model provides more flexibility and opportunity, which will be even more evident after this event.
- As per Lasser, this straightforward story with the wind at its back will be well-received as the market grapples with the uncertain macro and the scarcity of compelling alternative ideas.
- Evercore ISI analyst Greg Melich upgrades Walmart from In-Line to Outperform, raising the price target from $145 to $160.
- Price Action: WMT shares closed higher by 1.01% at $145.68 on Thursday.
| Feb 2022 | Morgan Stanley | Maintains | Overweight | |
| Feb 2022 | Raymond James | Maintains | Outperform | |
| Feb 2022 | Deutsche Bank | Maintains | Buy |
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