Walmart: continues its rebound, an analyst calls the stock "buy
February 23, 2024 at 10:56 am EST
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Walmart shares continue to gain ground on Wall Street (+1.1%) after yesterday's gain of around 1%. Today, the stock is benefiting from a positive analysis from Jefferies.
Jefferies reiterates its 'buy' recommendation and $210 price target on Walmart, citing its $2.3 billion acquisition of Vizio, which would give it access to data from the company's 18 million active accounts.
This would enable the advertising business to identify what content is being consumed, which could help improve match rates and generate higher returns on ad spend for Walmart's advertising clients.
The broker recently estimated that Walmart's advertising business could reach more than $10 billion in sales by fiscal 2029, but believes this deal could create further upside potential for its estimates.
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Walmart Inc. is the world's leading distribution group. Net sales break down by activity as follows:
- distribution in the United States and Porto Rico (83.3%): this activity is performed, at the end of January 2023, through the following names: Wal-Mart (83.3% of net sales; reduced-price retail distribution; 4,717 outlets, of which 3,572 supermarkets, 364 discount outlets, and 781 convenience stores), and Sam's Club (16.7%; 600 warehouses accessible to members only in the United States);
- international distribution (16.7%): 5,306 points of sales located in Mexico (2,862), Central America (882), China (365), Africa (375), Canada (402), Chile (392) and India (28).