Walmart’s (WMT) “strong momentum” is expected to continue into fiscal 2025 following its better-than-projected fiscal Q4 results, BofA Securities said.
On Tuesday, the retail giant reported fiscal Q4 adjusted earnings of $1.80 per share on sales of $171.91 billion, both topping market expectations.
“While we see continued softness in discretionary, we see support for general [merchandise] share gains to continue from initiatives [including] store remodels, online SKU expansion and strong pickup/delivery execution,” BofA analyst Robert Ohmes said in a note e-mailed Wednesday.
BofA projects Walmart’s fiscal Q1 adjusted EPS at $1.53 and full-year adjusted EPS at $7, according to the note.
The BofA analysts increased their price objective on the retailer’s stock to $200 from $190 while reiterating their buy rating.