RBC Capital increased its price target for Walmart shares to $126 from $123, maintaining an "Outperform" rating.
The decision followed meetings with Walmart's AI leadership. The analyst noted a "constructive" tone and messaging regarding the company's artificial intelligence initiatives. RBC believes Walmart is well-positioned to benefit from the growing adoption of AI and agentic search.
The new price target comes as Walmart's stock trades near its 52-week high, reached on January 13. Investor confidence supports this strong performance, driven by the company's value-focused model and consistent e-commerce growth. Walmart's upcoming inclusion in the Nasdaq-100 index provides additional support.