1. Home
  2. Earnings Beat
  3. Walmart Posts Q3 Sales Beat, Raises Guidance: Analysts Expect Strong Earnings Growth Ahead

Walmart Posts Q3 Sales Beat, Raises Guidance: Analysts Expect Strong Earnings Growth Ahead

2
0

Here are some key takeaways from analyst coverage of Walmart Inc (NYSE:WMT) after the retailer reported upbeat third-quarter sales.

  • Goldman Sachs analyst Kate McShane maintained a Buy rating, while raising the price target from $81 to $93.
  • Truist Securities analyst Scot Ciccarelli reiterated a Buy rating, while lifting the price target from $89 to $98.
  • Telsey Advisory Group analyst Joseph Feldman reaffirmed an Outperform rating, while raising the price target from $92 to $100.
  • Bank of America Securities analyst Robert Ohmes maintained a Buy rating, while raising the price target from $95 to $105.
  • KeyBanc Securities analyst Bradley Thomas reiterated an Overweight rating, while lifting the price target from $88 to $96.
  • JPMorgan analyst Christopher Horvers reaffirmed an Overweight rating and price target of $97.
  • BMO Capital Markets analyst Kelly Bania maintained an Outperform rating and price target of $100.
  • DA Davidson analyst Michael Baker reiterated Buy rating and price target of $85.

Check out other analyst stock ratings.

Goldman Sachs: Walmart’s US same-store sales grew by 5.3%, tracking better than consensus of 3.9%. This was driven by traffic, up 3.1%, and average ticket size, up 2.1%.

“WMT saw broad-based strength in the quarter, noting market share gains in the US, both in grocery and general merchandise, with households earning more than $100K accounting for 75% of share gains,” McShane said in a note. The company seems well positioned to continue generating strong earnings growth for the rest of the year, supported by market share gains and improving profitability profile.

Truist Securities: Walmart is gaining market share “across customer cohorts.” Around 75% of the company’s third-quarter gains came from higher-income households.

“Walmart’s focus on price, …

Full story available on Benzinga.com

Visited 2 times, 1 visit(s) today