Investing.com | Author Senad Karaahmetovic
Published Dec 20, 2022 07:12AM ET
Updated Dec 20, 2022 07:27AM ET
6 reasons why investors should own Walmart (WMT) - Credit Suisse
By Senad Karaahmetovic
Credit Suisse analysts have initiated research coverage of the Food Retail and Hardline/Broadline Retail sectors with a Neutral rating. The balanced view on these two sectors is also reflected in the coverage of single stocks with only Walmart (NYSE:WMT) and Tractor Supply (NASDAQ:TSCO) earning an Outperform rating.
The price target on Walmart stock is set at $170 per share, implying an upside potential of almost 20%. The analysts outlined 6 key reasons why they believe Walmart will outperform the market moving forwards.
Some other major retailers, including Home Depot (NYSE:HD), Costco (NASDAQ:COST), Lowe's (NYSE:LOW), and Target (NYSE:TGT), are Neutral-rated. On the other hand, Big Lots (NYSE:BIG) is the only Underperform-rated stock.
"Our rating and target price are based on our view that BIG is at risk of significant share losses going forward and the company continuing to re-invent itself to remain relevant – but these reinventions have not proven to be successful to date," the analysts said in a client note.
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