Oppenheimer Expects Walmart to Beat Consenus, Reaffirm Guidance
Oppenheimer Expects Walmart (WMT) to Beat Consenus, Reaffirm Guidance
WMT
+0.18%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
By Senad Karaahmetovic
Oppenheimer analysts reiterated an Outperform rating and a $155 per share price target on Walmart (NYSE:WMT) 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&P 500‘s decline of about 22%.
Walmart stock price closed at $140.97 on Friday.