Walmart (WMT - Get Report) was advancing 1.3% to $114.11 Friday after several analysts increased their stock-price targets for the world's biggest retailer.

On Friday in the premarket, the stock is trading 0.7% higher at $113.50. Thursday's 6.1% move up in Walmart's stock was its biggest in the past 52 weeks. 

The analysts moved after the Bentonville, Ark., company beat Wall Street's second-quarter-earnings expectations.

Raymond James increased its price target to $120 a share from $110, and analysts at Stifel raised theirs to $107 from $105.

Walmart highlighted the uncertainty of trade relations between the U.S. and China. Stifel analyst Mark Astrachan wrote that "management noted they are examining the affect from the proposed List 4 tariffs with the updated guidance reflecting their current understanding."

"According to the company approximately two-thirds of its goods are sourced domestically, primarily related to its large exposure to grocery," Astrachan wrote. "Products sourced internationally are also procured from a variety of countries not limited to China, including India, Mexico, Canada, etc. While tariffs could result in higher prices on some products, Walmart remains committed to being a low price leader for its customers and plans to take any cost increases on an item-by-item basis."

The Walmart target went to $128 from $125 at KeyBanc.

And BMO analyst Kelly Bania increased her price target to $125 and kept her outperform rating on the retail giant. 

Walmart continues to take market share in the grocery-store space while investing in e-commerce to sustain earnings growth, Bania said in a note to investors.

She also said Walmart's earnings before interest and taxes remained on a "solid trajectory" and its e-commerce margins expanded for the second consecutive quarter.

And she said Walmart is "planting the seeds" for growth with grocery delivery and innovations in healthcare.

Walmart on Thursday posted stronger-than-expected second-quarter earnings and increased its full-year profit guidance, even as it highlighted the uncertain trade relations between the U.S. and China.