Truist Boosts Price Target as Walmart Shows Resilience Amid Weaker Guidance

Walmart (WMT) shares declined after-hours on Thursday due to weak first-quarter guidance. Despite this, Truist raised its price target on Walmart to $139 from $127 and kept a 'Buy' rating on the shares.

The company reported Q4 revenues of $190.7 billion, a 4.9% growth in constant currency. Global eCommerce sales grew 24%, led by store-fulfilled pickup and delivery, and marketplace. The global advertising business also saw a 37% increase.

Walmart's CEO, John Furner, stated that the company is 'leading' the change in retail, with its financial results reflecting this.