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

Stocks Wobble as Trump Rails Against Unfair Trade Deals

Stocks Wobble as Trump Rails Against Unfair Trade Deals

SiriusXM Stock in Make-or-Break Mode Following Pandora Deal: Must-See Chart

SiriusXM Stock in Make-or-Break Mode Following Pandora Deal: Must-See Chart

Here's Why Sonic Was Bought Out

Here's Why Sonic Was Bought Out

Facebook Looks Poised to Make a Recovery

Facebook Looks Poised to Make a Recovery

Facebook Battles Negative Sentiment and a Weak Chart

Facebook Battles Negative Sentiment and a Weak Chart