Baird analyst Peter Benedict previewed Walmart's Q4 earnings report, which he expects to be solid. The analyst recommends investors stay involved as he believes the company's U.S. strategy of investing in people, processes, and technology is resonating with customers. The analyst said a convergence of initiatives should help sustain momentum and he sees continued progress on expenses. He expects guidance to remain intact, although he recognizes the uncertainty with Flipkart as the result of new regulations in India. Benedict reiterated his Outperform rating and $110 price target on Walmart shares.