Walmart Shares Will Soon Be at $90, Oppenheimer Says
Walmart's earnings are due out this month.

Oppenheimer initiated coverage on retail giant Walmart (WMT) with an "outperform" rating and a price target of $90 on Wednesday morning.

The firm believes Walmart is in a good position for sales growth as well as a recovery in profits.

Walmart is preparing to release its second quarter financial results later this month. The report is due out before the market open on Thursday, August 17.

Analysts surveyed by FactSet are expecting Walmart to report earnings of $1.07 per share on revenue of $120 billion for the most recent quarter.

Watch More with TheStreet:

More from Stocks

Real Money Video Wrap: GE Jumps as Analysts Look to Price in Bottom

Real Money Video Wrap: GE Jumps as Analysts Look to Price in Bottom

Adobe Tops Q4 Sales Forecasts, Sees $11.1 Billion in 2019 Revenues

Adobe Tops Q4 Sales Forecasts, Sees $11.1 Billion in 2019 Revenues

Stocks End Indecisively, General Electric Rises, Key Trends You Need to Watch

Stocks End Indecisively, General Electric Rises, Key Trends You Need to Watch

This Is Bear Market Action

This Is Bear Market Action

U.S. Stocks Close Mixed After Late Rally; GE, P&G Gain

U.S. Stocks Close Mixed After Late Rally; GE, P&G Gain