Robert Ohmes' Buy rating on Walmart's stock is derived from several key factors. Firstly, he expects Walmart's transaction and share gains to continue, supported by grocery market share gains and trade-down. This is in line with trends observed in credit and debit card data. The adjustment in the forecast for Walmart's US same-store sales to +4.0% (from +2.5%) also supports this expectation. Furthermore, Ohmes anticipates that increased contributions from Walmart's higher-margin profit streams such as digital advertising, third-party marketplace, and fulfillment services will help expand the company's gross margin in the second half of the fiscal year.
In another report released yesterday, Stephens also maintained a Buy rating on the stock with a $190.00 price target.
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