Walmart Inc. (NASDAQ:WMT) is one of the best stocks that will always grow.
The Information reported on March 4 that OpenAI is scaling back its plan aimed at introducing direct shopping inside ChatGPT. Following this release, BofA said on March 6 that it views the OpenAI news as a net positive for Walmart Inc. (NASDAQ:WMT), stating that the change has the potential to bring about an integrated commerce solution resembling the company’s previously announced partnership with Google’s Gemini in January. The firm reiterated a Buy rating on Walmart Inc. (NYSE:WMT) with a $150 price target on the shares, adding that once the company’s own platform “Sparky” is integrated within the platform, it should have an advantage showing up in searches, given its elaborate product assortment and low pricing.
Previously, BofA reinstated coverage of Walmart Inc. (NASDAQ:WMT) on February 27 with a Buy rating and a $150 price target, stating that the company is continuing to gain share with upper-income consumers through faster delivery offerings. It added that Walmart Inc. (NASDAQ:WMT) is also serving lower-income consumers with everyday low pricing, and thus BofA believes that an acceleration in profit growth and continuation of consistent sales growth should result in further positive EPS revisions, allowing the multiple to “grind higher.”
Walmart Inc. (NASDAQ:WMT) is an omnichannel retailer operating retail and wholesale stores, clubs, e-commerce websites, and mobile applications. It offers an elaborate array of items, from general merchandise and electronics to food, groceries, and more.
While we acknowledge the potential of WMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
Disclosure: None. Follow Insider Monkey on Google News.
