Walmart (WMT) is a Sign of Growing Interest in Domestic Stocks, Says Jim Cramer

We recently published 14 Stocks Jim Cramer Talked About.  Walmart Inc. (NASDAQ:WMT) is one of the stocks Jim Cramer talked about.

Walmart Inc. (NASDAQ:WMT) is one of the largest retailers in the world. Its shares are up by 25% over the past year and by 4.5% year-to-date. Bernstein increased the share price target to $129 from $122 in January and kept an Outperform rating on the shares. The financial firm commented that Walmart Inc. (NASDAQ:WMT) could benefit from the strength in medium to high-income consumers. Wells Fargo also reiterated an Outperform rating and kept the share price target at $130. The bank remarked that the retailer benefited from deep leadership and was unlikely to see significant turmoil from the departure of its CEO. As for Cramer, the CNBC TV host has recently started to praise Walmart Inc. (NASDAQ:WMT)’s ability to effectively compete with Amazon. In this appearance, he shared his opinion about why the stock is performing well:

“Again, like the domestics, like Walmart being up, that’s a sign that people want to bring their money back, to, obviously domestic stocks. . .”

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