The Walmart stock is among the long-term buys, per Peter Benedict. The latter is a five-star analyst of Robert W. Baird and Company, an American multinational financial services company and independent investment bank based in Milwaukee, Wisconsin.
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According to the news posted online by business and markets news outlet CNBC, Benedict is among the best-performing analysts on Wall Street. TipRanks is a firm that ranks financial analysts, and based on its unique data, it has placed the Wall Street specialist as number 34 out of more than 7,000 analysts.
Additionally, Benedict reportedly has an average return of 24.3 percent per rating and a success rate of 81 percent. This top Wall Street analyst views Walmart as one of the five stocks that is a favorable long-term buy.
Walmart is positioned specifically well in handling the deceleration in e-commerce trends. The retail giant recently reported quality earnings results as well.
Benedict increased his price target from US$160 to US$170. He also maintained his buy rating on the Walmart stock, following the company beating Wall Street consensus estimates and raising its own guidance.
Moreover, Benedict felt pleased by the Fortune 500 company’s diversifying revenue streams. His sentiment refers notably to Walmart’s acceleration in initiatives such as Walmart Connect.
The Wall Street analyst also noted that Walmart made gains across its general merchandise and grocery sectors. The Walton family’s multinational retail corporation beat Wall Street’s US$1.51 earnings per share estimates.
It reported US$1.78. Furthermore, Walmart increased its international sales by 13 percent, and it reached an all-time high in Sam’s Club memberships. Benedict felt encouraged by the back-to-school shopping season.
He said that Walmart is well-positioned no matter the macro environment for this year’s second half. Stimulus payments surely helped the retail company’s past earnings.
Benedict argued that, as a business, the retail company headquartered in Bentonville, Arkansas, will carry on accelerating forward. We agree with Mr. Benedict and recommend our readers pour their stock market investment funds on Walmart, for it is highly successful.
Even if there are the changing e-commerce trends that modify consumer behavior and the contagious new COVID-19 variants inevitably result in lockdowns, the retail behemoth still stands majestically. Walmart is apparently capable of adapting to diverse unpredictability or uncertainties.
We believe that the retail giant can deliver considerable returns on investment to its investors. Hence, we think this conviction certainly makes the Walmart stock a financially rewarding one to buy and hold for the long-term.