Even as other retail companies struggle, Walmart is poised to outperform as more consumers look for value, according to Deutsche Bank.
Analyst Krisztina Katai named the big-box retailer a top pick, calling the stock a defensive winner that will build on its recent gains. Walmart shares are up nearly 10% in the fourth quarter after popping 6.7% in July-September period. Year to date, it has lost 1.6%, outpacing the S & P 500. "We think value-focused retailers will continue to gain market share next year on accelerating trade down," she said in a note to clients. Katai has a buy rating on Walmart.
Walmart's performance comes as many in the retail world struggle with declining demand after two years of being in vogue, as the pandemic sent consumers to goods from service spending and with more disposable income. Some retailers have seen inventory gluts in recent months as demand slides, leading to actions like discounts to try to get products out of stores and warehouses.
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