EVs will help Walmart go green

Article Excerpt

WALMART INC. $127 is a buy. The retailer (New York symbol WMT; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 2.8 billion; Market cap: $355.6 billion; Price-to-sales ratio: 0.6; Dividend yield: 1.8%; TSINetwork Rating: Above Average; www.walmart.com) is buying 4,500 all-electric delivery vans from Canoo Inc. (Nasdaq symbol GOEV), with an option to buy up to 10,000 units. It has not yet said how much it will pay for these vehicles, but expects initial deliveries to begin in 2023. The new vans will help Walmart expand its home delivery service, particularly as the pandemic spurred a big jump in online orders. They will also help the company offset rising gasoline prices, and with its plan to cut its net greenhouse gas emissions to zero by 2040. Walmart is a buy. buy…