Walmart Gets Price Target Hikes By Analysts After Strong Q1 Results
Portfolio Pulse from Lisa Levin
Walmart reported better-than-expected Q1 results with sales growth of 7.6% YoY to $152.30 billion and adjusted EPS of $1.47. The company raised its FY24 adjusted EPS guidance to $6.10 - $6.20 and net sales guidance to 3.5% growth. Analysts from Telsey Advisory Group, JP Morgan, and Citigroup raised their price targets on Walmart.
May 19, 2023 | 11:00 am
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Walmart's better-than-expected Q1 results and raised FY24 guidance led to price target hikes by Telsey Advisory Group, JP Morgan, and Citigroup.
Walmart's strong Q1 results and raised FY24 guidance indicate a positive outlook for the company. This has led to increased confidence among analysts, resulting in price target hikes from Telsey Advisory Group, JP Morgan, and Citigroup. This is likely to have a positive short-term impact on Walmart's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100