A customer pays for her groceries after shopping at a Walmart store ahead of the Thanksgiving holiday in Chicago.
Kamil Krzaczynski | Reuters
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Walmart is acting as an excellent source of essential items during the coronavirus crisis, and will be rewarded with customer loyalty in the post-COVID-19 world, according to Citi.
The Wall Street firm transferred coverage of Walmart to a new analyst, who is sticking with a buy rating for the big box retailer. Citi slapped a $140 per share price target on Walmart, implying about a 15% rally from Tuesday’s closing price of $121.99 per share.
Originally published at CNBC