Walmart stock: BMO lifts target to 136 dollars before results

Published on 11/11/2026 at 15:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Walmart stock draws fresh attention as BMO keeps its positive rating ahead of the retailer's next quarterly report. The broker still sees market-share support.

What BMO Sees Before Earnings

BMO expects Walmart to deliver broadly in-line fiscal third-quarter results.
The broker sees continued market-share support from general merchandise marketplace activity.
Longer-term comparable-sales expectations were reduced, while the earnings-growth view was unchanged.

Walmart, US9311421039, Illustration mit AI erstellt.

BMO Capital raised its Walmart price target from 126 to 136 US dollars on Monday while keeping an Outperform rating, according to Investing.com. The November 10 analyst update points to underlying business strength before Walmart's fiscal third-quarter results.

Walmart stock traded at 111.94 euros on Lang & Schwarz at 15:04 CET on Wednesday, November 11, 0.62 percent below the Xetra close of 112.64 euros on Tuesday, November 10. The comparison uses the previous Xetra session because the market had not yet reached the 17:35 CET threshold for using the current day's close.

Market Share Supports The Case

BMO expects Walmart to deliver broadly in-line fiscal third-quarter results. Its US comparable-sales estimate is 2.8 percent, while general merchandise gross merchandise volume is expected to continue growing at a high-single-digit rate. BMO interprets that combination as evidence of further market-share gains.

The broker also kept its fiscal 2028 earnings-per-share growth forecast at 9 percent year over year. Its new price target is based on 40 times BMO's rolled-forward fiscal 2029 earnings-per-share estimate, leaving valuation as an important part of the investment case.

Longer-Term Risks Remain

BMO reduced its fiscal 2028 US comparable-sales forecast to 2.1 percent from 3.5 percent. Investing.com attributed the change to headwinds from the next class of medicines affected by Maximum Fair Pricing. The adjustment signals that the broker's positive view on Walmart's operating momentum does not remove longer-term pressure on comparable growth.

For investors, the upcoming report will therefore be judged on more than headline revenue. Comparable sales, general merchandise GMV and the durability of earnings growth are the main indicators behind the latest analyst revisions. A stronger marketplace and advertising contribution could help support the longer-term earnings case, while softer comparable-sales trends would keep valuation in focus.