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Buy Walmart stock on a huge AI opportunity – analyst says

By: Invezz
buy warlmart stock on ai opportunity jefferies analyst

Walmart Inc (NYSE: WMT) has already gained about 13% over the past two months but a Jefferies analyst is convinced it is not out of room to run just yet.

Walmart stock could climb to $195

Corey Tarlowe reiterated his “buy” rating on the big box retailer this morning and raised his price target to $195 – up more than 15% from here.

The analyst is bullish because he expects artificial intelligence to be a meaningful benefit for Walmart stock. His research note reads:

We believe innovations in automated distribution, advertising, shrink reduction, and freight optimization could generate $20 billion plus of incremental EBIT by FY’29.

Note that John David Rainey – the chief financial officer of Walmart Inc also said in November that the omnichannel strategy was working and he was satisfied with the company’s competitive position.

Watch here: to beat sales estimates in Q4

Walmart is scheduled to report its financial results for the fourth quarter on February 20th. Consensus is for it to earn $1.63 a share versus $1.71 per share a year ago.

The Jefferies analyst is confident that Walmart will come in modestly above the sales estimates in its to-be-reported quarter and “guide fiscal 2025 conservatively given possibility inflation continues slowing”.

Walmart stock currently pays a dividend yield of 1.34% that makes up for another good reasons to have it in your investment portfolio.

#basicincome. First time I saw an automated floor cleaner making its rounds in our Walmart. It's coming. More job losses due to automation!!

— spicytuna (@spicytu29171295) February 3, 2024

In his research note, Corey Tarlowe also raised his price objective on Target Corp (NYSE: TGT) to $170 a share on Thursday.

The post Buy Walmart stock on a huge AI opportunity – analyst says appeared first on Invezz

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