Analysts are getting bullish on Wal-Mart Stores Stores Inc (NYSE:WMT) after the company recently announced an ambitious stock buyback plan of worth $20 billion. Out of the 33 famous FactSet analysts covering the stock, 16 raised their price target for Walmart last week. Investment firm Susquehanna Financial said in a report that Walmart’s investor day developments showed that the company is well on track to become the retailer of tomorrow.
The firm increased its price target to $99 from $93. Walmart is pushing hard into the digital retail sector to compete with Amazon.com . Last year, Walmart acquired Jet.com which is one of the biggest ecommerce platforms in the world.
Most of the analysts say Wal-Mart Stores Stores is cheap at this level. Currently the company is being followed by 10 researchers. The recommendations are: no sells, 2 times hold and 8 times buy. The average of the current target prices for the stock equals 138,1 USD. This is around 21 percent less than the current price of 87,44 USD. The latest 3 recommendations for the food & drug retailer were provided by Credit Suisse , BMO Capital Markets and Barclays .
Wal-Mart Stores Stores's market capitalization is around 276,49 billion USD.
On Friday the stock closed at 87,44 USD.
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