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Walmart Inc. WMT lowered its guidance for the second quarter and full fiscal year. The company said it revised its outlook as a result of pricing actions aimed to improve inventory levels at Walmart and Sam's Club in the U.S.
Walmart shares tumbled 9.2% to $119.84 in the pre-market trading session.
Several analysts made changes to their price targets on Walmart following profit warning.
- Telsey Advisory Group lowered price target on the stock from $160 to $145.
- Oppenheimer lowered Walmart price target from $165 to $135.
- B of A Securities cut the price target on the stock from $160 to $145.
- Wells Fargo lowered the price target from $150 to $130.
- RBC Capital lowered Walmart price target from $153 to $135.
- Stifel cut the price target on the stock from $150 to $145.
- Guggenheim lowered Walmart price target from $175 to $155.
- Credit Suisse cut the price target on the stock from $155 to $133.
- UBS lowered Walmart price target from $165 to $152.
- Morgan Stanley cut the price target on the stock from $156 to $145.
- Goldman Sachs lowered Walmart price target from $25 to $12.
- Atlantic Equities cut the price target on the stock from $18 to $13.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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