(CercleFinance.com) – Walmart shares posted the second largest increase in the Dow Jones index on Tuesday morning, supported by UBS which raised its price target on the stock.
Around 10:45 a.m. (New York time), the stock of the American distribution giant gained 1.3%, compared with a gain of 0.2% at the same time for the Dow.
In a note released this morning, UBS said it expected a ‘solid start to the year’ from the supermarket chain, which it said should have benefited from favorable commercial dynamics.
‘If it is true that the title has been the subject of certain interest and support from the market for several quarters, we believe that the upcoming publication will help reinforce this well-deserved respect,’ he explains.
From UBS’s point of view, the results which will be revealed next week should indeed ‘check all the boxes’ at a time when household consumption is starting to weaken.
The analyst says in particular to expect market share gains and progress in the evolution of its economic model, more focused on automation and new sources of income, which should bring the stock price to short term.
UBS, which posts a buy recommendation on the stock, thus raises its price target from 63 to 69 dollars, which represents an upside potential of around 15%.
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