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Walmart shares close little changed on Tuesday, CEO seeks certainty and predictability in business environment from India’s PM

According to a Tuesday report by the Economic Times, citing sources with knowledge of the matter, in a correspondence with India’s Prime Minister Narendra Modi, Walmart’s Chief Executive Officer requested certainty and predictability in business environment in the country.

Walmart shares closed lower for the fifth time in the past fourteen trading sessions in New York on Tuesday. The stock edged down 0.13% ($0.16) to $119.58, after touching an intraday high at $120.14, or a price level not seen since October 18th ($120.60).

Shares of Walmart Inc have risen 28.37% so far in 2019 compared with a 19.51% gain for the benchmark index, S&P 500 (SPX).

In 2018, Walmart’s stock went down 5.67%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

Amazon.com Inc as well as Walmart Inc’s Flipkart had to overhaul their business models, after in 2018 India’s government introduced changes to regulation governing foreign direct investment for e-commerce marketplaces.

According to an earlier report by Reuters, in January, the retailer informed the US government privately that the new regulation in India was regressive and could potentially undermine trade ties.

Analyst stock price forecast and recommendation

According to CNN Money, the 28 analysts, offering 12-month forecasts regarding Walmart Inc’s stock price, have a median target of $125.00, with a high estimate of $150.00 and a low estimate of $105.00. The median estimate represents a 4.53% upside compared to the closing price of $119.58 on October 22nd.

The same media also reported that at least 15 out of 30 surveyed investment analysts had rated Walmart Inc’s stock as “Buy”, while 10 – as “Hold”.

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