Mizuho Cuts Walmart Price Target, Stock Takes 1.8% Hit

Walmart's (NASDAQ: WMT) stock price dropped by 1.8% during mid-day trading on Tuesday after Mizuho lowered its price target from $130.00 to $125.00 while maintaining an 'outperform' rating.

The stock traded as low as $105.35 and last traded at $106.80, with approximately 24,663,749 shares changing hands during the trading session, a decline of 3% from its average session volume of 25,358,092 shares.

This comes after several analysts issued reports on the stock in recent weeks. JPMorgan Chase & Co. cut its price target on Walmart's shares from $137.00 to $125.00 and set an 'overweight' rating on the stock, while BMO Capital Markets reissued an 'outperform' rating and set a $126.00 price objective.

Mizuho's revised price target may weigh on sentiment for Walmart's stock, especially considering its high earnings multiple.