Walmart shares drop 1.6% after Oppenheimer cuts rating, citing potential U.S. comparable sales shortfall.
Walmart (WMT) fell 1.6% in early trading after Oppenheimer downgraded the stock to Perform from Outperform, warning of a challenging near-term outlook. Analyst Rupesh Parikh highlighted risks to U.S. comparable sales, which may underperform expectations.
The downgrade follows Walmart’s recent earnings report, where the company posted mixed results but maintained guidance. Oppenheimer’s caution contrasts with broader retail sector optimism, as consumer spending trends remain under scrutiny.
Shares opened lower, reflecting investor concern over the retail giant’s short-term performance amid macroeconomic pressures.