MKM upgrades Walmart to Buy with $166 target heading into holidays - InvestingChannel

MKM upgrades Walmart to Buy with $166 target heading into holidays

MKM Partners analyst Bill Kirk upgraded Walmart to Buy from Neutral with a price target of $166, up from $156. Relative to peers, Walmart has better inventory levels heading into the holiday and has shown the best progress toward building a subscription model, Kirk tells investors in a research note. Further, the company’s two-year stacked trends accelerating where others are stagnating, says the analyst. He also believes Walmart is “best positioned should the consumer become more price discerning due to energy and food inflation.” Meanwhile, the stock is trading just 20% above pre-Covid levels, while much of the peer group has more than doubled, adds Kirk.