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Update: BofA Securities Cuts Price Target on Walmart to $144 From $150, Maintains Buy Rating

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(Updated with BofA's commentary).

BofA Securities lowered its price target on Walmart (WMT) to $144 from $150, while defending the stock on the pullback following its fiscal Q1 results.

Walmart's share gains are expected to accelerate with a price-conscious consumer and drive a return to a beat/raise cycle assuming the freight environment doesn't worsen, analyst Christopher Nardone wrote in a Thursday note.

There is continued strength expected in e-commerce and alternative revenue streams, and expects membership to accelerate given focus on value, improving delivery speeds, and gas saving, Nardone said.

Walmart has an average rating of overweight and mean price target of $140.37, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $119.53, Change: $-1.82, Percent Change: -1.50%

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