We recently published Wall Street Analysts Like These 10 Stocks. Walmart Inc is one of the stocks analysts were recently talking about.
Oliver Chen, TD Cowen senior retail analyst, said in a recent program on CNBC that despite inflation worries, the consumer in the US has remained resilient. However, the analyst said consumers are “watching their wallet” and looking for value. Chen said Walmart is among his top retail picks. He has a $115 price target on the stock.
“I think it comes back to price elasticity and where and when and how are shoppers prepared to pay more in certain scenarios. Also, companies have had to manage very closely with suppliers to to rationalize this and take some margin hits. Our favorite stock ideas Walmart, Costco, those that understand value and execute to it. We like BJ’s too.”
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This article is originally published at Insider Monkey.
