Walmart Gets Price Target Hikes By Analysts After Strong Q1 Results

Comments
Loading...

Walmart Inc WMT reported better-than-expected results for its first quarter and raised full-year forecast.

Walmart reported quarterly sales growth of 7.6% year-on-year to $152.30 billion, beating the analyst consensus estimate of $148.65 billion. Adjusted EPS was $1.47, beating the consensus of $1.32.

For FY24, the company raised FY24 adjusted EPS guidance from $5.90 - $6.05 to $6.10 - $6.20 versus an estimate of $6.15. It also raised FY24 net sales guidance from 2.5% - 3% growth to 3.5% growth (CC).

Walmart shares rose 1.3% to close at $151.47 on Thursday but lost 0.2% in today’s pre-market trading session.

These analysts made changes to their price targets on Walmart following earnings announcement.

  • Telsey Advisory Group raised the price target on Walmart from $160 to $168. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
  • JP Morgan lifted the price target on Walmart from $155 to $157. JP Morgan analyst Christopher Horvers maintained a Neutral rating.
  • Citigroup raised the price target from $169 to $174. Citigroup analyst Paul Lejuez maintained Walmart with a Buy.

 

Read More: Investor Sentiment Improves Further After Nasdaq Jumps 1.5%

Overview Rating:
Speculative
50%
Technicals Analysis
66
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!