Citigroup Trims Walmart Price Target to $132.00 Amid Strong Earnings

Citigroup, one of the world's largest financial institutions, has reduced its price target for Walmart (NASDAQ:WMT) stock from $147.00 to $132.00 in a recent research note.

Despite cutting its price target, Citigroup maintains a 'buy' rating on Walmart's stock, suggesting a potential upside of 27.82% from the current stock price of $103.27.

This is not the only change in sentiment towards Walmart this week; several other equities research analysts have issued reports on the company, with Freedom Capital raising its rating to 'hold' and Tigress Financial reiterating a 'buy' rating.

Walmart's recent earnings report showed the company beating consensus estimates for EPS, with $0.81 reported compared to $0.74 expected, and revenue rising 5.9% year over year to $187.94 billion.