Walmart (NYSE:WMT) stock is worth picking up ahead of the retail giant’s earnings report if one analyst is to be believed.
Credit Suisse analyst Karen Short is behind this news, and it comes with a new earnings per share estimate. Short believes Walmart can hit earnings of $1.74 per share, which is 6 cents higher than her previous estimate. It’s also above the consensus estimate of $1.69 per share.
Here’s what the Credit Suisse analyst said about Walmart in a note to clients obtained by CNBC:
“We continue to believe WMT remains very well positioned for the current environment, as it continues to exhibit solid defensive characteristics, given its value-driven consumables-oriented business in the wake of a volatile consumer backdrop and slowing but elevated inflationary headwinds on the consumer.”
WMT Stock Rating
In this note to clients, Short reiterated the firm’s “outperform” rating for WMT stock. For the record, the analysts’ consensus rating is sitting at “moderate buy” based on 30 opinions.
In addition to this, the Credit Suisse analyst also increased her price target for WMT stock from $170 per share to $180 per share. That represents a potential 12.3% increase from yesterday’s closing price. It’s also higher than the analysts’ consensus price prediction of $171.39 per share.
Investors wanting to see how Walmart’s earnings turn out will want to check back in on the company come Aug. 17. The retailer is set to release its earnings report before the opening bell that day.
WMT stock is unmoving as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
