Investment bank CICC initiated coverage on Walmart Inc. (WMT) with an "Outperform" rating. The firm set a price target of $125 for the retail giant's stock.
This rating aligns with the generally positive consensus among market analysts. FactSet data shows analysts maintain an average 'buy' rating for WMT. The mean price target across the market stands at $122.92.
The coverage initiation coincided with Walmart stores reopening on December 26, following the traditional Christmas holiday closure. Separately, filings revealed increased stakes from institutional investors. Symmetry Partners LLC and Cwm LLC both raised their holdings during the third quarter.
No significant market reaction to the new analyst coverage was reported.