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WMT

Walmart

$86.07

1.56 (1.85%)

, JSAIY

J Sainsbury

$0.00

(0.00%)

07:08
05/17/18
05/17
07:08
05/17/18
07:08

Walmart says on track to increase online grocery pickup by around 1,000 stores

In the company's Q1 earnings presentation, President and CEO Doug McMillion said: "Walmart's (WMT) first quarter results were solid. We're encouraged by the progress made across the business and the continued momentum we've experienced. Total revenue, on a constant currency basis, increased approximately 2.7 percent and adjusted EPS grew 14 percent. Each of our business segments delivered solid sales growth." He noted that eCommerce sales accelerated in the first quarter with 33 percent growth, and "we expect to grow sales about 40 percent for the full year." Commenting on Asda, he said: "Recently, we took some strategic actions to further position our portfolio for long-term growth. We were pleased with the response of our colleagues in the U.K. following our announcement of the proposed merger of Asda with Sainsbury's (JSAIY). We believe this proposed combination is good for customers and colleagues as well as shareholders." McMillon also said: "Overall, the stores business is getting stronger. We're using technology in more ways to simplify work for associates so they can better serve customers." He said that Walmart is "on track to increase online grocery pickup by around 1,000 stores this year to reach more than 2,100 locations across the U.S. with this service. We're also rolling out grocery delivery to about 800 stores by year-end, allowing us to cover 40 percent of the U.S. population with delivery."

WMT

Walmart

$86.07

1.56 (1.85%)

JSAIY

J Sainsbury

$0.00

(0.00%)

  • 17

    May

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    May

  • 01

    Jun

WMT Walmart
$86.07

1.56 (1.85%)

05/10/18
MSCO
05/10/18
NO CHANGE
Target $93
MSCO
Equal Weight
Walmart deal for Flipkart more dilutive than anticipated, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman noted that news reports heading up to Walmart's (WMT) deal for a majority stake in Flipkart had predicted a $12B transaction for about 60% of a business generating operating losses in the $1B range. However, the higher than expected magnitude of losses Walmart would absorb in India significantly raises the stakes on the trajectory of its U.S. business and clouds the near-term path, he said. He also questions why the company is investing outside the U.S. market, stating that it could have instead accelerated its third-party marketplace infrastructure, stepped up its partnership with Google Home (GOOG) to better compete with Amazon's (AMZN) Alexa, or intensified domestic investments in price and fulfillment. However, he does add that the deal prevents Amazon, for now, from building an "insurmountable" advantage in the important Indian market. Gutman lowered his price target on Walmart to $93 from $99 after the deal was more dilutive than anticipated and keeps an Equal Weight rating on the shares.
05/10/18
LOOP
05/10/18
NO CHANGE
Target $87
LOOP
Hold
Walmart price target lowered to $87 from $92 at Loop Capital
Loop Capital analyst Andrew Wolf lowered his price target on Walmart to $87 and kept his Hold rating after the company's $16B investment in Flipkart. The analyst is positive on the deal longer term, given that India's retail market is expected to grow at 9% per year over the next 5 years and in light of the company's minimal store presence in India. In the medium term however, Wolf says the investment will be "meaningfully dilutive" to earnings, weighing on the stock.
05/15/18
SPHN
05/15/18
NO CHANGE
Target $108
SPHN
Overweight
Walmart Q1 expectations achievable, says Stephens
Stephens analyst Ben Bienvenu said he believes that consensus expectations regarding Walmart's Q1 results are achievable, though he noted that e-commerce growth in the quarter may come in below the company's annual guidance for about 40% growth. Still, easier e-commerce comparisons as the year progresses make its annual goals doable and Bienvenu remains confident that Walmart is one of the best positioned retailers he covers, he tells investors. He maintains an Overweight rating and $108 price target on Walmart ahead of the company's earnings report due on Thursday.
05/16/18
MKMP
05/16/18
NO CHANGE
Target $93
MKMP
Buy
Target to benefit from strong digital sales, says MKM Partners
MKM Partners analyst Patrick McKeever kept his Buy rating and $93 price target on Target Corp (TGT) ahead of its Q1 earnings next week. The analyst says the aggressive Street consensus for earnings is "doable" in spite of the negative impact from cold weather in the East, noting that the quarter will likely see more strong growth in digital sales driven by more "expedient" fulfillment and new orders. McKeever adds that despite the 12% run in the stock price year-to-date, its valuation is still 3.4 points below that of Walmart (WMT) on "overly pessimistic" investor sentiment. The analyst says Target remains his "Top Pick" in the space in 2018.
JSAIY J Sainsbury
$0.00

(0.00%)

10/03/17
BREN
10/03/17
INITIATION
BREN
Buy
J Sainsbury initiated with a Buy at Berenberg
Price target 300p.
04/30/18
BARD
04/30/18
NO CHANGE
Target $105
BARD
Outperform
Walmart continues transformation with Asda deal, says Baird
Walmart's (WMT) plans to merge Asda with U.K. rival J Sainsbury (JSAIY) represents the latest move in CEO Doug McMillon's effort to transform/optimize the company's asset portfolio, Baird analyst Peter Benedict tells investors in a research note. He believes the deal signifies Walmart's continued focus on positioning itself for growth in "tomorrow's retail world." Benedict reiterates an Outperform rating on the shares with a $105 price target.

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iShares Transportation Average

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XLK

Technology Select Sector SPDR

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Utilities SPDR

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SWKS

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Health Care Select Sector SPDR

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CIVB

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IWM

iShares Trust Russell 2000 Index Fund

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