Walmart Inc. shares declined approximately 0.3% to $130.81 in late morning trading on Monday, a modest retreat even as multiple brokerages increased their price objectives for the retail giant ahead of its upcoming quarterly results.
This slight pullback follows the stock's recent ascent to a 52-week high and its historic achievement of a $1 trillion market capitalization last week, driven by its core grocery strength and expanding ventures in advertising and delivery.
Analysts Raise Targets Ahead of Earnings
Several analyst firms have recently lifted their outlooks for Walmart. Oppenheimer increased its target to $140 from $125, maintaining an Outperform rating. Mizho's analyst David Bellinger raised his target to $137, citing potential benefits from AI-driven shopping tools. JPMorgan also adjusted its target upward to $137.
The company is scheduled to report its fiscal fourth-quarter earnings before the market opens on February 19, with a conference call to follow.
Market Awaits Economic Data
Investors are also focused on key U.S. economic indicators due this week, including January's nonfarm payrolls report and Consumer Price Index data. These readings could influence Federal Reserve policy expectations and consumer demand signals, factors that directly impact retail stocks.
Despite the positive analyst sentiment, some caution persists. With shares trading near peak levels, any disappointment in sales growth, margins, or consumer spending trends could pressure the valuation. The competitive landscape also remains intense, with Amazon continuing to advance in physical grocery and rapid delivery.
Leadership at Walmart is in transition, with John Furner having assumed the CEO role on February 1 as part of a broader executive reshuffle announced in January.
