KeyBanc Analyst Raises Walmart Price Target by 19% on Strong Buy Rating

KeyBanc's Bradley Thomas raised their price target on Walmart (NYSE: WMT) by 19% from $63 to $75 on 2024/05/17. The analyst maintained their Strong Buy rating on the stock.

Thomas summarized Walmart's Q1 2025 earnings, which were reported on May 16, as "strong earnings and guidance." He also highlighted that Walmart remains "one of the most compelling investment opportunities in retailing" as its growth initiatives are "hitting their stride." According to Thomas, there is a favorable outlook for Walmart in the short, medium, and long terms.

Other analysts also updated their ratings and price targets for Walmart on May 17. Mark Astrachan from Stifel Nicolaus raised their price target by 6.2% from $65 to $69 while maintaining a Hold rating on the stock. Scot Ciccarelli from Truist Securities raised their price target by 6.7% from $60 to $64 and maintained a Hold rating. Paul Lejuez from Citigroup raised their price target by 18.4% from $63.33 to $75 and maintained a Strong Buy rating.

Currently, 87.5% of top-rated analysts rate Walmart as a Strong Buy or Buy, while 12.5% see it as a Hold. No analysts recommend or strongly recommend selling the stock.

The consensus forecast among analysts is that Walmart's upcoming year will deliver earnings per share (EPS) of $2.17. If the analysts' predictions are accurate, Walmart's next yearly EPS will increase by 13.2% on a year-over-year basis.

Walmart's stock price has shown significant growth since its last quarterly report on January 31, 2024. It is up 17.4% and has seen a 29.7% increase year-over-year. During this period, Walmart has outperformed the S&P 500, which has risen by 27.5%.

KeyBanc analyst Bradley Thomas is highly ranked by WallStreetZen, placing in the top 3% out of 4,587 Wall Street analysts. Thomas has an impressive average return of 19.5% and a win rate of 60.3%. Their expertise lies in the Industrials and Real Estate sectors, among others.

Walmart Incorporated operates various retail, wholesale, and other units both in the U.S. and internationally. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It has a diverse range of retail formats, including supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, membership-only warehouse clubs, and e-commerce websites. Walmart was founded in 1945 and is headquartered in Bentonville, AR.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.