Walmart

KeyBanc Capital Launches Walmart, Target Coverage with Overweight Ratings

KeyBanc Capital Launches Walmart, Target Coverage with Overweight Ratings
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Analysts at KeyBanc Capital Markets said on Wednesday Walmart Inc. wmt,
-2.06%
and Target Corp. TGT,
-4.38%
appear well positioned to weather the current economic environment and grow profit margins. Analysts at KeyBanc began coverage of Walmart and Target with overweight ratings and price targets of $155 and $200, respectively. “While investors may find better growth potential in smaller companies, we believe that both Walmart and Target are in the best competitive position of over the past decade as e-commerce’s catalyst becomes significantly more important due to the pandemic,” said KeyBanc analyst Bradley B. Thomas. . The two companies are also poised to gain market share in the next two to three years by leveraging their grocery delivery/collection operations. Analysts also expect their profit margins to recover to normal levels. Shares of Walmart are down 6.6% in 2022, compared to a 17.5% loss by the S&P 500 SPX,
-4.32%.
The target stock is down 28.2% in 2022.

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