(News Bulletin 247) – Crédit Suisse maintains its Outperformance rating and its price target of $170 on Walmart stock.
‘Walmart posted another solid quarter, reaffirming our confidence that it should remain one of the winners in retail’, begins the analyst for whom ‘Walmart’s myriad strategic investments are bearing fruit ‘.
Given this strong earnings performance in the first quarter, Credit Suisse notes that the company expects ‘EBIT growth to outpace sales growth for the full year, anticipating net sales growth constant currency growth of 3.5% and consolidated EBIT growth of 4.0% to 4.5% at constant currency.’
Walmart’s previous outlook called for constant currency sales growth of 2.5%-3.0% and EBIT growth of 3%.
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