Sam Boughedda

Investing.com — MKM Partners analyst told investors that Walmart Inc. (NYSE:) was upgraded from neutral to a buy, increasing their price target by $166 to $156.

Walmart shares aren’t responding to this news. They traded just 0.10% higher at $143.30 on Thursday.

In a research note, Patrick McKeever stated to investors that he was impressed by the inventory levels of the company heading into the holiday season and the progress made towards building a subscription program.

Mckeever stated that Mckeever’s company has a third-party marketplace with endless aisle. It is well-positioned to help consumers be more cost-conscious in the face of food and energy inflation.

Walmart’s trading is just 20% higher than pre-Covid levels while the rest of its peers have increased by more than twice. The analyst stated that Walmart is poised to win the Holidays with price investments and a tightened assortment. He also believes Walmart will continue to grow its share of the market in 2022.

Walmart shares have fallen for the entire year despite positive developments. Nevertheless, several analysts have spoken positively of the stock this week following its earnings — these include analysts at Credit Suisse, UBS, Baird, and KeyBanc.