Jefferies is reaffirming a Buy rating and $120 price target on Walmart (NYSE:WMT), anticipating that the retail giant’s upcoming Investment Community Meeting will shine a spotlight on its advancing tech capabilities and operating income (OI) momentum.
Analysts expect the event, scheduled for April 8–9, to offer insights into Walmart’s tech-driven growth strategy, particularly in how new systems are boosting efficiency across its e-commerce platforms, stores, and warehouse clubs. While the analysts don’t expect major changes to Walmart’s long-term financial targets or near-term outlook, they believe investors will gain more clarity on how Walmart is scaling profitability faster than revenue.
The event will feature tours of stores, clubs, and distribution centers, along with executive discussions, offering a comprehensive view of operations ahead of key retail periods—including Easter, which falls later this year on April 20 (compared to March 31 last year).
Jefferies acknowledges broader retail headwinds in Q1, including extreme weather disruptions and delayed seasonal buying due to the late holiday, but views Walmart as uniquely well-positioned. The company’s pricing advantage, especially in private label, along with its growing e-commerce footprint and diversified revenue sources, should help it navigate short-term pressure better than peers.
