WMT - 4 Reasons to Buy Walmart Stock Like There's No Tomorrow
2024-06-01 09:00:00 ET
Stepping into a new stake in Walmart (NYSE: WMT) right now might be a bit uncomfortable. Shares are up nearly 30% since October's low, and higher to the tune of 65% from their mid-2022 bottom (and well into record-high territory as a result). The stock is also priced at 26 times its projected per-share earnings. Tacking on more gains from here could prove challenging.
But this may be one of those cases where it makes sense to pay a premium price for a stock in anticipation of more straightaway forward progress. Four reasons for owning Walmart shares stand out among the rest.
Too many companies are hitting a proverbial wall at this time thanks to the tough economic environment. Rival retailer Target (NYSE: TGT) , for instance, saw its same-store sales sink 3.7% for the quarter ending in early May.
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4 Reasons to Buy Walmart Stock Like There's No Tomorrow