Jefferies Analyst Raises Price Target for Wal-Mart Stores, Inc. (WMT)
Analyst Daniel Binder of Jefferies reiterated his Buy rating for Wal-Mart Stores, Inc. (NYSE:WMT) with a raised price target of $85, marking a 15% increase from current levels.
Binder gave this rating due to continued progress in Wal-Mart’s in-store and online sales. He also feels that its management is putting the company in a good position to be successful in the long-term. Wal-Mart saw second quarter growth in its third-party marketplace, grocery online, pick-up in sore, and price messaging online. Binder also got the feeling that the launch of Walmart Pay and the free trial of ShippingPass were “well received.”
According to TipRanks, the analyst has a success rate of 60% with an average return of 1.9% per recommendation.