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Wall Street sets Walmart stock price for the next 12 months

Wall Street sets Walmart stock price for the next 12 months
Elmaz Sabovic

Despite economic uncertainties, retail giant Walmart (NYSE: WMT) has been doing remarkably well in 2023. The company’s stock has consistently climbed since the beginning of this year, reaching an impressive all-time high (ATH) of $169.78 in the middle of November.

However, despite reporting solid numbers in its latest third-quarter report on November 16, including revenue growth of 5.2% from the previous quarter and earnings per share of $1.53, which is an exact estimate of Nasdaq analysts, WMT shares experienced a decrease of -6.5% that brought it to the current value of $158.

With the news of Samuel Robson Walton, the ex-chairman and significant stakeholder in Walmart, sold over 2.16 million WMT shares according to two filings on November 21 and November 24, with the total proceeds from the sale amounting to $336.7 million, investors might be wondering whether it is time to sell this stock.

On its previous close on November 28, WMT traded at $158.64 per share. It gained 1.19% in the 24-hour period, adding to a 1.99% increase in value over the past five days.

WMT 7-day stock price chart. Source: Finbold
WMT 7-day stock price chart. Source: Finbold

Wall Street’s forecast for WMT

Notably, Wall Street analysts’ average 12-month price objective for WMT currently stands at $180.79, implying around 13.96% further upside compared to the current share price.

Wall Street analysts’ average price target for WMT. Source: TipRanks
Wall Street analysts’ average price target for WMT. Source: TipRanks

The stock has an average analyst rating of ‘Strong Buy,’ based on 25 ‘Buy’ recommendations, while 5 advised ‘Hold’ and none suggested a ‘Sell.’

Analyst forecasts indicate growing optimism, with some predictions reaching as high as $210. This positive outlook considers Walmart’s retail market dominance and the strong performance of its U.S. branch, eCommerce, and advertising business.

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