Walmart Stock In Focus On Meituan Partnership: Retail’s Upbeat
By Stocktwits Inc | First Published Dec 18, 2024, 5:29 PM ISTAn “express shopping” play, the partnership will target deliveries within 30 mins
Retail giant Walmart ($WMT) shares were up on Tuesday after the company announced it was teaming up with Chinese on-demand delivery services company Meituan, with retail sentiment staying bullish.
According to media reports, Walmart’s stores across China will now be listed on Meituan in a bid by the company to enter the speedy delivery services segment to sell groceries and other goods.
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An “express shopping” play, the partnership will target deliveries within 30 mins, according to South China Morning Post. Walmart’s chief merchandising officer in China has reportedly said the collaboration marked “an effective supplement to Walmart’s omnichannel operations.”
Retail sentiment on the stock has been in the ‘bullish’ with message volumes remaining in the ‘high zone.’
Earlier this week, Jefferies raised its price target on Walmart to $111 from $105 with a Buy rating, The Fly.com reported. The firm thinks Walmart is “well positioned” to post mid-single-digit percentage comp growth, citing share gains with higher-income customers, inflecting discretionary spending trends, and growing alternative revenue streams. The report said, citing the analyst. Walmart is one of the firm’s top ideas heading into 2025.
Meanwhile, Tigress Financial also raised its price target to $115 from $86 with a Buy rating on the shares. It cited continuing gains across all income levels as sustainable, strong gains in e-commerce and innovative advertising continue to drive growth, The Fly.com reported.
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