Walmart Poised for Continued Growth Amid Market Share Gains, BofA Says

10:46 AM EST, 11/11/2026 (MT Newswires) -- Walmart (WMT) is poised to continue gaining market share across its grocery and general merchandise businesses, BofA Securities said in a Wednesday client note, adding that it expects the retailer to update its full-year sales and earnings guidance to the upper end of its previous ranges. BofA highlighted upward pressure on commodity costs from rising oil prices, with suppliers beginning to raise prices and grocery inflation expectations increasing. However, the brokerage believes the risk of a pullback in demand for general merchandise remains low, given Walmart's focus on value. US consumer price growth slowed in October but still exceeded Wall Street's projections, data from the Bureau of Labor Statistics showed Tuesday. BofA expects Walmart to report third-quarter earnings of $0.63 per share, while analysts in a FactSet poll are looking for $0.64. The brokerage said its forecast includes a 2.8% growth estimate for the company's US comparable sales, excluding fuel. Walmart is scheduled to release its latest quarterly financials on Nov. 19. The brokerage expects Walmart to update its full-year EPS and sales outlook to the upper end of its prior range. In August, the company raised its full-year guidance for adjusted EPS to a range of $2.80 to $2.87, from $2.75 to $2.85 previously. Walmart pegged full-year revenue growth at 4% to 5% at the time, up from the prior range of 3.5% to 4.5%. The brokerage thinks the market needs to see an acceleration in Walmart's US comparable sales growth, excluding health and wellness, following the recent sector rotation. It also believes investors need greater confidence that the retailer's marketplace and advertising businesses can drive faster earnings growth next year. The brokerage raised its price target for Walmart to $139 from $126 and reiterated its buy recommendation on the stock. Walmart rivals Target (TGT), Home Depot (HD), Lowe's (LOW) and Best Buy (BBY) are all scheduled to report quarterly results later this month. Price: 124.03, Change: -1.52, Percent Change: -1.21