In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Wal-Mart Stores Inc (NYSE: WMT), with a price target of $100. The company’s shares closed yesterday at $96.17.
Parikh commented:
“Earlier this week, we attended the WMT analyst day in Bentonville, AR, which included spending time with senior management and visiting some of the company’s latest in-store innovations within the Northwest Arkansas market. Overall, we walked away much more confident in WMT’s ability to sustain top-line momentum and drive improved operating leverage going forward. The tone from the management team was even more upbeat than prior years, and seemed more confident in their ability to drive both comp and operating income growth in the US. At this point, valuation combined with a more muted near-term earnings delivery represents the primary sticking point for us in not recommending shares. Please see inside for both our top ten takeaways and store visit highlights.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.8% and a 63.2% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Sprouts Farmers.
Currently, the analyst consensus on Wal-Mart Stores Inc is a Moderate Buy with an average price target of $107.47, which is an 11.8% upside from current levels. In a report issued on October 4, Morgan Stanley also maintained a Hold rating on the stock with a $98 price target.
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Wal-Mart Stores Inc’s market cap is currently $282.3B and has a P/E ratio of 55.27. The company has a Price to Book ratio of 3.97.
Based on the recent corporate insider activity of 211 insiders, corporate insider sentiment is negative on the stock.
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