- Walmart (WMT) shares reached record-high prices ahead of the Black Friday season.
- The National Retail Federation projects a record 187 million shoppers during Black Friday to Cyber Monday.
- Average consumer spending on seasonal items expected to hit approximately $890 per person.
- BTIG initiated a buy rating on Walmart with a $120 price target, citing effective digital and physical retail strategies.
- CEO Doug McMillon has positioned the company to sustain market share and profit growth despite economic challenges.
Shares of Walmart (WMT) reached new all-time highs this week, trading as high as $109.58 on November 26, just before the start of its Thanksgiving and Black Friday sales period. The final quarter typically performs strongly for the retailer, driven by high demand for items like Smart TVs, outdoor barbecues, and furniture.
The upcoming holiday shopping weekend, which includes Black Friday and Cyber Monday, is forecasted to attract a record 187 million shoppers, according to the National Retail Federation. Average consumer spending on gifts and seasonal products such as decorations, cards, food, and candy at retailers like Walmart is expected to reach around $890 per person this year.
Analysts consider Walmart a top choice among dividend stocks, noting its significant growth over the past decade. Wall Street anticipates that the company’s shares will continue to rise through the end of the year. BTIG analysts highlight Walmart’s integrated approach of combining physical stores with digital sales channels as delivering value to both customers and shareholders. In this context, BTIG has given Walmart a buy rating with a price target of $120.
CEO Doug McMillon has guided Walmart to strengthen its position in market share and profits despite macroeconomic pressures. The company’s strategy and solid third-quarter earnings bolster confidence as the retailer enters one of its most important shopping seasons.
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