Three major Wall Street firms upgraded Walmart on February 9, raising price targets from the $125-$129 range to $137-$140. These revised targets imply a potential upside of 5% to 8%. Oppenheimer maintained an Outperform rating and set a $140 target, citing strong Q4 holiday performance and top-line momentum. Mizuho raised its target to $137, highlighting Walmart's positioning to capitalize on hyperscaler AI infrastructure spending. JPMorgan also increased its target to $137, noting macroeconomic tailwinds including wage growth and fading goods inflation.
Walmart shares declined 1.65% on February 9 to close at $129.02. After-hours trading saw a further decline of 0.51% to $128.36. The pullback reflects investor caution regarding Oppenheimer's conservative fiscal 2026 guidance expectations. These projections fall significantly below the Street consensus of 11.3% operating income growth. This gap suggests potential near-term volatility despite the company's robust underlying fundamentals.