(News Bulletin 247) – Jefferies remains long on Walmart stock and maintains its target price of $175.
According to Jefferies’ consumer survey, Walmart is ‘well positioned in the current environment’.
‘Our survey indicates that they intend to spend more on their needs than on their wants and that they have a strong propensity to turn to private labels’, continues the analyst.
Given this momentum, Jefferies is ‘increasingly bullish on Walmart being the value leader in the grocery business’.
Crucially, Walmart’s investments in technology and e-commerce and pricing investments have positioned it for future market share gains,’ the analyst insists.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
