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Walmart Inc (NYSE:WMT) is among the stocks heading towards the trillion-dollar club.
The stock is a mix of "defense and offense" on both revenues and profits, amid a soft consumer backdrop with high uncertainty in the back half of 2024, according to JPMorgan.
The Walmart Analyst: Christopher Horvers upgraded the rating for Walmart from Neutral to Overweight, while raising the price target from $66 to $81.
The Walmart Thesis: The company is poised for multi-year double-digit earnings growth, driven by "market share gains, rising alternative profit pool benefits, and International segment profit inflection," Horvers said in the upgrade note.
Check out other analyst stock ratings.
The analyst mentioned four reasons for the upgrade:
WMT Price Action: Shares of Walmart had declined by 0.82% to $69.82 at the time of publication on Thursday.
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Posted In: WMT