Guggenheim Shrugs Amazon Threat Lifts Walmart (WMT) Price Target

Walmart Inc. (NYSE:WMT) is one of the best stocks to buy according to billionaire Ken Fisher. On August 18, Guggenheim reiterated a ‘Buy’ rating on the stock and raised its price target to $115 from $112. The price target hike comes as the company demonstrates solid fundamentals, with revenues skyrocketing to $685 billion in the last 12 months.

Guggenheim Shrugs Amazon Threat Lifts Walmart (WMT) Price Target

Is it a Wise Move to Invest in Walmart Inc. (WMT)?

In addition, Guggenheim remains confident about Walmart’s prospects, even as Amazon expands into its domain around same-day fresh food delivery. According to the research firm, Walmart boasts an unmatched scale and productive store and supply chain assets, which should give it a competitive edge in the space.

Consequently, Guggenheim expects Walmart’s second-quarter total sales to increase by 4.4%, resulting in EBIT growth of 8.7%. It also expects the retail giant to revise its EBIT growth guidance upwards from the current range of between 3.5% to 5.5%.

Walmart Inc. (NYSE:WMT) is a global retailer that runs a vast network of retail and wholesale stores, membership clubs, ecommerce platforms, and mobile apps across multiple countries.

While we acknowledge the potential of Walmart Inc. (NYSE:WMT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WMT and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.