Thursday, February 9, 2023
HomeMarketOppenheimer Expects Walmart to Beat Consenus, Reaffirm Guidance By Investing.com

Oppenheimer Expects Walmart to Beat Consenus, Reaffirm Guidance By Investing.com

© Reuters. Oppenheimer Expects Walmart (WMT) to Beat Consenus, Reaffirm Guidance
- Advertisement -

By Senad Karaahmetovic

Oppenheimer analysts reiterated an Outperform rating and a $155 per share price target on Walmart (NYSE:) heading into the Q3 earnings that are due early next week.

The analysts believe that Walmart is likely to top consensus estimates, although they remind investors that shares tend to struggle on earnings, judging by recent prints.

“We would take advantage of any such dips,” they said in a client note

Although the company is struggling with its general merchandise offerings, the analysts believe the continued momentum in the grocery category will help offset these headwinds. Still, they don’t expect Walmart to raise its full-year guidance “amidst significant challenges in discretionary categories such as CE, Apparel, and Toys.”

“Looking forward, we believe the defensive attributes of the WMT business model, grocery share gains, growing contributions from alternative revenue streams, and easy comparisons support an outperformance case from here,” the analysts added.

Walmart shares have meaningfully outperformed the market year-to-end, down just 3% vs ‘s decline of about 22%.

Walmart stock price closed at $140.97 on Friday.

 

Story Credit: investing.com

RELATED ARTICLES
- Advertisment -

Most Popular