Analysts Are Upgrading These 5 Stocks

02. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 66

Chuck Grom, an analyst at Gordon Haskett, upgraded Walmart Inc. (NYSE:WMT) rating from Accumulate to Buy and raised the price target from $155 to $165 on April 19. According to the analyst, the company’s foot traffic growth has improved sequentially in April by 1,120 basis points to 0.7% on a four-year basis, outperforming the firm’s coverage and broader retail. This improvement is in line with the firm’s earlier expectation that traffic trends would begin to inflect higher. Gordon Haskett believes that Walmart Inc. (NYSE:WMT) benefits from increasing wallet share from core customers in a softening macroeconomic environment and gaining market share with higher-income customers.