Deutsche Bank upgrades Walmart to buy, citing growing online grocery business

October 9, 2018


Walmart’s online grocery business will thrive and compete well against Amazon, according to Deutsche Bank.

The firm raised its rating to buy from hold for Walmart shares, predicting the retailer will report sales above expectations in its third quarter.

“We believe the company is now in position to accelerate market share gains in grocery while also growing EBIT [earnings before interest and taxes] dollars (ex. Flipkart),” analyst Paul Trussell said Tuesday in a research note entitled “Flexing Its Muscles.”

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