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Walmart Inc. (NYSE:WMT) is trading at $70.14 per share at last check Tuesday, up 0.73%.
Evercore ISI Group analyst Greg Melich maintains Walmart an Outperform and raises the price target from $73 to $74.
According to Benzinga Pro, WMT stock has gained over 35% in the past year. Investors can gain exposure to the stock via SPDR Select Sector Fund (NYSE:XLP) and Fidelity MSCI COnsumer Staples Index ETF (NYSE:FSTA).
The workers’ union at Walmart in Chile canceled a strike on Monday, extending the current labor agreement with the company by another 18 months, Reuters reported.
The Chinese Ministry of Commerce recently announced that Vice Minister Wang Shouwen held talks with Walmart CEO Kathryn McLay, discussing China-U.S. economic ties, Walmart’s operations in China, and related matters, reported Reuters.
Also Read: Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle
Walmart relies heavily on imports from China for its goods.
Meanwhile, Walmart marked the grand opening of a new 730,000-square-foot perishable distribution center (PDC) in Lancaster, Texas with celebrations attended by Walmart associates, local officials, and community members. Situated 15 miles south of Dallas, the facility specializes in receiving and handling fresh produce, eggs, dairy, flowers, and frozen goods destined for nearby Walmart stores.
This new PDC represents Walmart’s second facility in Lancaster, following the next-generation fulfillment center that commenced operations in 2023.
Price Action: WMT shares are trading higher by 0.8% to $70.18 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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