Will Q3 earnings propel Wal-Mart Stores Inc (NYSE:WMT) stock to $100 mark?
Flickr [Update:Walmart delivered a beat on both the top and bottom line numbers in its third-quarter earnings release. The brick and mortar retail store chain reported non-GAAP EPS of $1.0 per share surpassing the high end of its own guidance, beating analysts estimates by 3 cents. On the top line front, the retailer reported revenues of$123.2 billion, up 4.2% YoY, and $2.2 billion more than what analysts were expecting. The company’seCommerce growth in the US remained strong, as Net sales and GMV increased 50% and 54%, respectively. The retail giant also increased its full yearEPS guidance to $4.38-$4.46 from $4.30-$4.40.]
Shares of Bentonville, Arkansas-based offline retail giant Wal-Mart Stores Inc (NYSE:WMT) have come to life in 2017 and are having their best run in recent years, up nearly 30% in the year-to-date. Walmart stock’s recent bull run has increased the expectations from its fiscal third-quarter earnings, which is scheduledfor today before the opening bell. WMT stock has been on a steady uptrend going into earnings since the beginning of October but closed in the red during yesterday’s trade. Wall Street is also turning more bullish about the prospects of thebrick-and-mortar retail behemoth ahead of earnings as Rupesh Parikh ofOppenheimer raised his price target on the Walmart stock to $100 and reiterated his Outperform rating. Now, the question is, can Q3 earnings set WMT stock on a post-earnings rally?
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