These Analysts Raise Price Targets On Walmart After Upbeat Q2 Results

Walmart Inc. WMT reported upbeat results for its second quarter on Tuesday.

Walmart reported adjusted EPS of $1.77 on revenues of $152.86 billion, which beat the consensus estimate of $1.62 and revenues of $150.75 billion. Walmart guided its full-year 2023 profits lower, however, forecasting adjusted EPS to decline between 9% and 11%.

Walmart shares rose 5.1% to close at $139.37 on Tuesday.

Several analysts made changes to their price targets on Walmart following the release of results.

• Telsey Advisory Group increased price target on Walmart from $145 to $160. However, Telsey Advisory Group analyst Joseph Feldman maintained the stock with an Outperform.
• Raymond James raised Walmart’s price target from $140 to $150. However, Raymond James analyst Bobby Griffin maintained the stock with an Outperform rating.
• Goldman Sachs boosted the price target on the stock from $135 to $155. However, Goldman Sachs analyst Kate McShane maintained Walmart with a Buy.
• RBC Capital raised Walmart’s price target from $135 to $151. However, RBC Capital analyst Steven Shemesh maintained an Outperform rating on the stock.