BTIG has raised its price objective for Walmart (NASDAQ:WMT) to $140.00, up from $125.00, while retaining a Buy rating as the retailer approaches its fourth-quarter earnings report. The research house pointed to Walmart's positioning in the current retail environment as a central reason for the more bullish valuation.
The firm is modeling fourth-quarter earnings per share of $0.72 and expects U.S. comparable sales to rise 4.5% when Walmart reports results for the period ending February 19. BTIG left its fiscal 2027 earnings-per-share estimate unchanged at $3.00, a figure slightly above the consensus estimate of $2.97.
InvestingPro data included with the research note shows Walmart trading at a price-to-earnings ratio of 44.46, a level the report notes is substantially higher than the industry average. BTIG’s more constructive outlook is linked to the company’s omni-channel execution and the growth of its e-commerce operations, which the firm views as complementary to Walmart’s large physical footprint.
On a trailing-twelve-month basis, Walmart reported $703.06 billion in revenue, underscoring the scale of the company within the Consumer Staples Distribution & Retail segment. BTIG also provided an estimate for fiscal 2028 earnings per share of $3.35, modestly above the consensus projection of $3.32, indicating sustained confidence in Walmart’s multi-year earnings trajectory.
The revised price target is meant to reflect additional upside for shareholders should Walmart continue to execute on its digital-transformation efforts while preserving the economics of its core retail operations. The firm’s outlook arrives amid a cluster of analyst updates that have generally favored Walmart.
Oppenheimer raised its own price target on Walmart to $140 and kept an Outperform rating, citing expectations of a strong holiday period and continued top-line momentum. Jefferies reiterated a Buy rating with a $132 price target, noting Walmart’s resilient positioning after PepsiCo announced price cuts on snack products. Piper Sandler increased its target to $130, pointing to robust apparel performance and competitive pricing at Walmart stores.
Operational developments at the company include the opening of a new Walmart Supercenter in Jacksonville, Florida, a project that created 400 jobs and forms part of a broader plan to expand or convert 150 stores over coming years. Separately, Barclays maintained an Equalweight rating and a $68 price target on Kroger, and flagged the appointment of Greg Foran as CEO as a positive for Kroger given his experience and the parallels to Walmart’s development cycle.
BTIG’s note, together with the other recent analyst actions and Walmart’s store expansion moves, paints a picture of active strategic initiatives across large grocery and retail operators as they navigate price competition, holiday season dynamics, and omni-channel growth. Investors will be watching the upcoming fourth-quarter results for confirmation of the sales and EPS metrics BTIG has outlined.