Wal-Mart Stores Inc.
shares are up 1.1% in Friday premarket trading after it was initiated at overweight at KeyBanc Capital Markets based on investment-driven market share gains the retail giant has made in recent quarters. Wal-Mart's price target is $90. Analysts support efforts like the two-year, $2.7 billion investment in store associates, which they say has improved the customer experience, and the closing of Walmart Express stores. And the bank believes "the acquisition of Jet.com further solidifies Walmart's position as a strong number two in e-commerce," the Thursday note said. "We think that the company can opportunistically use price investments as a lever to drive the targeted incremental $45 billion to $60 billion in sales over a three-year period." Wal-Mart shares are up 15.4% for the year so far, while the S&P 500 Index
is up 5.2% for the same period.
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