Walmart Analyst Sees Bright Horizon, Anticipation Builds for PhonePe, Flipkart IPOs
Portfolio Pulse from Anusuya Lahiri
Oppenheimer analyst Rupesh Parikh maintained an Outperform rating on Walmart Inc (NYSE:WMT) and raised the price target from $175 to $185, citing optimism for the company's future performance and potential value from the IPOs of PhonePe and Flipkart. Despite a potential below-consensus fiscal 2024 guide, Walmart remains a top pick for Parikh, with shares outperforming peers and the S&P 500. The analyst expects Q4 EPS sales to be at least in line with Street figures and projected a fiscal 2024 EPS of $6.85.
February 12, 2024 | 6:25 pm
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POSITIVE IMPACT
Oppenheimer analyst Rupesh Parikh is optimistic about Walmart's future, raising the price target to $185 and maintaining an Outperform rating. The anticipation of PhonePe and Flipkart IPOs, along with a solid performance track record, supports a positive outlook.
The raised price target and maintained Outperform rating by Oppenheimer's analyst reflect strong confidence in Walmart's growth potential and operational performance. The anticipation of IPOs for PhonePe and Flipkart suggests potential for additional shareholder value, further supporting a positive short-term impact on Walmart's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100