How Will Walmart (WMT) Stock React to Jefferies Price Target Increase?
NEW YORK (TheStreet) -- Walmart (WMT) - Get Report stock price target was increased this morning at Jefferies to $85 from $82.
The firm has a "buy" rating on the Bentonville, AR-based retail giant.
"We continue to see progress in stores and online and believe management is focused on the right this to better position Walmart longer-term," the firm said in an analyst note released this morning.
Jefferies added that in the company's 2016 second quarter, they have expanded their third-party marketplace, online grocery business, in-store pick-up business, and launched both Walmart Pay and a free trial of ShippingPass.
"At the end of June, Walmart expanded ShippingPass from 50 test markets to the entire U.S. while also offering a 30-day free trial," the firm said. "Customer response has been strong, with signup rates more than quadrupling shortly after the announcement."
Walmart stock closed down 0.24% to $73.66 on Tuesday.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and notable return on equity. TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: WMT
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.