Tech will help drive Walmart higher

Article Excerpt

In the past few years, Walmart has built up its e-commerce retailing platforms as more consumers embrace online shopping. That includes making it easier for customers to order products online and pick them up at a nearby store. As part of that strategy, Walmart recently agreed to buy consumer electronics manufacturer Vizio. Walmart has little interest in making TV sets. Rather, it plans to use Vizio’s online streaming platform to better reach online shoppers. Meantime, the company’s focus on low prices and groceries continues to attract cost-conscious shoppers to its brick-and-mortar stores. It’s also using automation to cut its labour costs and improve efficiency. Those factors should continue to spur the stock, which has already gained 14% since the start of 2024. WALMART INC. $60 is a buy. The company (New York symbol WMT; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 8.1 billion; Market cap: $486.0 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.4%; TSINetwork Rating: Above Average; www.walmart.com) is the world’s largest retailer with 10,616 outlets…