DA Davidson Reiterates Buy Rating on Walmart (WMT)

DA Davidson analyst Michael Baker reiterated a Buy rating and $117.00 price target on Walmart (NYSE: WMT).

The analyst commented, "Walmart held their annual associate and shareholder celebration in Bentonville this week, with the events including a morning concert on Friday, hosted by Jimmy Fallon and featuring top stars like Saquon Barkley, The Killers, Post Malone, Walton Goggins and Noah Kahan among others. With the stock up 48% since this event last year, far outpacing the S&P 500 up 12% and the retail ETF, the XRT up 3% over that time, we see why Walmart’s management team is celebrating their associates. Along with the fun events, the two day trip included store tours and question and answer session with management. We reiterate our BUY rating and $117 price target for this Best-of-Breed Bison name, based on a valuation of 40x 2026, plus our estimate of WMT’s equity in Flipkart and PhonePe."

For an analyst ratings summary and ratings history on Walmart click here. For more ratings news on Walmart click here.

Shares of Walmart closed at $97.47 yesterday.

You May Also Be Interested In