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Walmart earnings preview: Rival Target likely saw more benefit from stimulus spending

·4 min read
Walmart earnings preview: Rival Target likely saw more benefit from stimulus spending
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Walmart Inc. is scheduled to report fiscal first-quarter earnings on Tuesday before the opening bell, and Cowen says there’s a good chance that rival Target Corp. got a bigger boost from recent government stimulus spending. To be sure, Cowen analysts raised its own estimates for Walmart (WMT) and expects the checks paid to Americans by the government to be a tailwind for the retail giant. “Target likely saw a bigger lift from stimulus than Walmart given its more discretionary bent,” analysts led by Oliver Chen wrote.