Walmart Inc. (WMT) reduced its guidance for the current quarter and full year, citing rising prices for food and fuel. Here are the reactions of six top analysts..
Analyst Joseph Feldman maintained an Outperform rating for the company, while lowering the price target from $160 to $145. Although the pressure on profitability due to a softer consumer spending environment was expected for the back half of 2022, “the magnitude of the decline at Walmart has been higher than anticipated,” partly on account of inventory issues, Feldman said in a note.
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