“Lasso”ing the Momentum

研报英文原文证据摘录

“Lasso”ing the Momentum

Consumer | Retail Broadlines & Hardlines

June 08, 2026

Walmart, Inc Greg Melich, CFA Michael Montani, CFA 212-446-9484 212-446-5655

WMT | $118.88 Greg.Melich@evercoreisi.com Michael.Montani@evercoreisi.com

Outperform | Target Price/Base Case: $140.00 Daragh Regan

Commentary 212-446-5603

Daragh.Regan@evercoreisi.com

Company Statistics Benson Boone flips, P!NK prepped for the Tony’s, and Walmart’s

52-Week Range $93.43 - $135.15 faithful took a full dose of cultural re-enforcement to home to keep

Base Case $140.00 the mission alive: Help customers save money to live better. MC

Upside/Downside 16.4% Jason Sudeikis Ted “Lasso’d” the crowd with his dry wit, humor, and

Market Capitalization (B) $959

Price/Earnings 45.3 energy. John Furner took the stage for the first time as CEO, harnessing

Forward P/E 40.8 his decades of global Walmart experience to connect the maxed-out

EV / EBITDA 21.1 Bud Walton arena to a common thread. AI agent Sparky’s express

Dividend Yield 0.8% delivered guitar was the ideal complement for Furner to lead the team

Short Interest 1.6% in a “don’t stop believing” melody. The stock may be down from it’s $1tn

market cap of a few weeks ago, yet the potential for Walmart to both

expand and deepen its growth potential appears real. While there were

Earnings Summary no grand strategic announcements, we found intriguing insights from

2025 2026E 2027E side discussion with at least a half dozen Walmart execs that increase

Consensus EPS $2.64 $2.90 $3.27 our conviction in the stock and support its return to our Top Five

Portfolio last week. Macro trends, traffic momentum, membership EPS $2.66 $2.95 $3.35

inflection, and early AI traction.

Macro: Risks remain, yet strong enough for Walmart’s flywheel to

1 Year Price History keep winning.