Walmart (WMT) reported "solid" fiscal Q4 results despite the change in schedule of Flipkart's Big Billion Days sale as China and Canada units' performance remained strong, Deutsche Bank said in a note Friday.
The company's Q4 same store sales and total sales in China jumped 23.1% and 27.7%, respectively, while Canada posted 5.8% same store sales growth and 5.5% increase in net sales, according to the note.
"SSS, by our calculation, accelerated to +8.3% vs. +6.1% in Q3, driven by successful festive events across markets and robust general merchandise growth," Deutsche Bank said.
The retail giant's fiscal 2025 guidance had "some noise," with a bigger-than-anticipated 80 basis points profitability growth drag from Vizio, the note said, adding that Walmart's initial 2025 earnings before interest and taxes growth range of 5% to 7% is "solid."
Deutsche Bank lowered Walmart's price target to $113 from $115, and maintained a buy rating on the stock.
Price: 96.08, Change: -1.13, Percent Change: -1.16
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