Several analysts raised their target prices

Walmart (WMT) reported strong fiscal 3Q18 results, and several analysts raised their target prices for the stock. Jefferies increased its target price to $110 from $105 and maintained a “buy” rating. KeyBanc raised its target price to $112 from $100 and maintained an “overweight” recommendation. Telsey Advisory Group recommended an “outperform” rating and raised its price target to $108 from $96. RBC Capital, which has an “underperform” rating on WMT stock, also raised its target price to $92 from $83.

How Analysts Reacted to Walmart’s Strong 3Q Results

Given the surge in WMT stock on November 16, 2017, the stock is now trading 3.4% above analysts’ 12-month target price of $96.21 per share.

Rating summary

Walmart is expected to continue to generate healthy sales due to improvement across all its business segments. Its digital business is estimated to grow at a rapid rate and, in turn, support its top-line growth. Fresh offerings, supply-chain reinvention, and in-store activity are projected to drive the company’s top-line and bottom-line growth.

However, increased price investments and a growing digital mix for overall sales are expected to hurt its margins.

About 47% of analysts covering WMT stock are recommending a “buy,” and an equal number are suggesting a “hold.” About 6% of analysts have given the stock a “sell” rating.

In comparison, most of the analysts are recommending a “hold” for Target (TGT) stock, and most of the analysts are suggesting a “buy” for Costco (COST) stock.

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