BENTONVILLE, Ark. — Several retail analysts raised their target price estimates for Walmart shares following stellar second-quarter results and in spite of some cautionary sentiment from the retail giant, who gave no earnings guidance for the balance of the year.
Walmart shares (NYSE: WMT) closed Friday at $131.65, up by $1.08. The stock ran up to a 52-week high earlier in the week at $137.63 but receded in the past few days as the Bentonville-based company withdrew earnings guidance, making it harder for brokers to model future earnings.
Ben Bienvenu, an analyst with Stephens Inc., saw enough positives from Walmart in the recent quarter to reiterate his overweight rating and his $160 price target. He said despite some slowing comp sales to start the third quarter, he’s bullish on the shares.
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