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Why These Analysts Are Backing Off Walmart Stock
['David Marino-Nachison', 'Tue', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
Wall Street analysts are broadly bullish on Walmart's shares.
Credit: Getty ImagesKey TakeawaysOppenheimer downgraded Walmart stock to a neutral rating, citing reduced outperformance potential.
Analysts highlighted U.S. pharmacy revenue headwinds, valuation concerns, and overly optimistic Street forecasts.
Oppenheimer analysts on Tuesday downgraded Walmart (WMT) stock to a neutral "perform" rating, withdrawing a $140 per share price target that represented a 26% premium to yesterday's close around $111 and was roughly in line with the Visible Alpha mean.
"Although we are stepping to the sidelines, we still remain very upbeat on [Walmart's] longer-term prospects," the analysts wrote.