CICC published a report covering Walmart for the first time, giving it a “outperforming industry” rating. The target price is 125 US dollars. Based on comparable company valuation methods, it corresponds to 42 times the price-earnings ratio forecast for the 2027 fiscal year. The bank believes that the company has transformed from traditional retail to an omni-channel ecosystem platform. With significant cost advantages and a hybrid warehouse+store fulfillment network, it has begun a second growth curve driven by high-margin businesses such as advertising and membership. There is room for long-term profit quality improvement and valuation system. The bank expects the company's earnings per share for the 2026 and 2027 fiscal years to be $2.72 and $2.97, respectively, with an average compound annual growth rate of 10% for the 2025 to 2027 fiscal years.

CICC published a report covering Walmart for the first time, giving it a “outperforming industry” rating. The target price is 125 US dollars. Based on comparable company valuation methods, it corresponds to 42 times the price-earnings ratio forecast for the 2027 fiscal year. The bank believes that the company has transformed from traditional retail to an omni-channel ecosystem platform. With significant cost advantages and a hybrid warehouse+store fulfillment network, it has begun a second growth curve driven by high-margin businesses such as advertising and membership. There is room for long-term profit quality improvement and valuation system. The bank expects the company's earnings per share for the 2026 and 2027 fiscal years to be $2.72 and $2.97, respectively, with an average compound annual growth rate of 10% for the 2025 to 2027 fiscal years.