Walmart Inc. (NASDAQ:WMT) shares traded near flat Friday as investors weighed the retailer’s defensive positioning ahead of quarterly earnings.



Market attention also remained on Walmart’s ability to sustain consumer demand and digital momentum during ongoing economic uncertainty.



BofA Securities analyst Christopher Nardone reiterated a Buy rating on the stock, with a price forecast of $150.



<h2>Analyst’s Take</h2>



The company will release its first-quarter earnings results on Thursday, May 21, 2026.



Nardone said consistent sales growth and improving digital margins could support further earnings revisions over the next year.



The analyst expects Walmart’s core customer base to remain “resilient” despite persistent macroeconomic uncertainty and elevated fuel prices.



Nardone forecasts first-quarter earnings of 65 cents per share alongside Walmart U.S. comparable sales growth of 4.5%.



Investor expectations for Walmart U.S. comparable sales currently range between 4% and 4.5%. In fact, prolonged economic volatility could help Walmart gain market share as consumers increasingly seek lower prices.



“We expect the core Walmart consumer will prove resilient and think a prolonged period of macro volatility and higher gas prices can accelerate share gains as consumers hunt for value,” the analyst said.



The analyst expects management to maintain a cautiously optimistic tone while discussing the company’s full-year outlook.



For the quarter to be reported, free shipping, same-day delivery and gas discounts as important drivers supporting customer engagement.



Nardone also pointed to recent Sam’s Club membership fee increases across both membership tiers in the U.S.



The analyst viewed Walmart’s unchanged executive incentive structure as a sign of strategic continuity under CEO John Furner.



According to Benzinga Pro, WMT stock has gained over 36% in the past year. Investors can gain exposure to the stock via Global X PureCap MSCI Consumer Staples ETF (NYSE:GXPS).



WMT Price Action: Walmart shares were down 0.82% at $131.37 at the time of publication on Friday. The stock is approaching its 52-week high of $134.69, according to Benzinga Pro data.



Image via Shutterstock

Walmart (WMT) is positioned to gain market share amid high gas prices and economic volatility, according to BofA Securities analyst Christopher Nardone, who maintains a Buy rating with a $150 price target. He anticipates first-quarter earnings of 65 cents per share and comparable sales growth of 4.5%. Nardone believes Walmart's core customers will remain resilient, benefiting from lower prices during economic uncertainty. WMT shares were down 0.82% at $131.37, nearing a 52-week high.

- Walmart Inc. shares traded near flat as investors considered the retailer's position ahead of quarterly earnings on May 21, 2026.  
- Analyst Christopher Nardone maintained a Buy rating with a forecast price of $150, expecting first-quarter earnings of 65 cents per share and comparable sales growth of 4.5%.  
- Nardone believes Walmart will gain market share amid economic volatility, citing factors like free shipping and membership fee increases as drivers of consumer engagement.

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BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

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Consumers Are Feeling The Squeeze — And That Could Be Walmart's Biggest Advantage