Several analysts revised the price target and estimates of Walmart Inc (NYSE: WMT) following Q3 FY24 results.
Results & Outlook: Walmart reported sales growth of 5.2% Y/Y to $160.8 billion, beating the consensus of $159.55 billion, and adjusted EPS was $1.53, above $1.50 last year quarter, beating the consensus of $1.52.
Walmart now sees adjusted EPS of $6.40-$6.48 (prior $6.36-$6.46) versus an estimate of $6.48. The company raised its FY24 net sales growth (cc) outlook to 5.0%-5.5% from 4%-4.5% earlier.
DA Davidson analyst Michael Baker maintained a Buy rating with a price target of $182.
The analyst sees expense overrun and softness at the end of October as concerns, and the implied 4Q EPS guide is below consensus.
Baker revised estimates for revenue and EPS to $645.5 billion (from $642.5 billion, vs. $639.4 billion street view) and $6.44 (from $6.47, vs. street view: $6.48) for current year and $672.0 billion (from $666.3 billion, vs. cons: $663.0 billion) and $7.04 (from $7.02 vs. cons: $7.13) for next year.
BMO Capital Markets analyst Kelly Bania reaffirmed the Outperform ...