Walmart is trading at $120.56, up 3.93%, after Deutsche Bank upgraded it to Buy from Hold and raised its price target to $136 from $113.
- The bank said inflation may strengthen Walmart’s value proposition and support faster market-share gains.
- The move also follows a consumer-staples rally as hotter inflation encouraged investors to favor defensive stocks.
- Walmart had already risen 3.46% on October 14, closing at $116.16.