Walmart Surpasses $1 Trillion Valuation For The First Time
Synopsis
Crossing the $1 trillion threshold places Walmart alongside other major global players that have hit similar valuations, most of which are in the technology sector.
Walmart Inc. (WMT) reached a major financial milestone on Tuesday, with its market capitalization climbing above $1 trillion.
Piper Sandler boosted its price target on Walmart to $130 from $123 on Tuesday, maintaining an ‘Overweight’ rating on the stock, according to TheFly. The firm emphasized the strength of Walmart’s apparel assortment and value pricing, which it says is helping the retailer expand its customer base and deliver margins above competitors.
Crossing the $1 trillion threshold places Walmart alongside major technology companies that have hit similar valuations. Fellow consumer names such as Target (TGT) and Costco Wholesale (COST) remain below this mark.
Walmart stock inched 0.8% higher on Tuesday morning.
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