Walmart Hits $119 Target After Strong Q3 12/03/25
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Walmart Hits $119 Target After Strong Q3 12/03/25
Key Stories:
- Bitcoin saw a notable bounce, pushing broader markets higher on Tuesday, December 2nd, after a bearish start to the month. The S&P 500 equity index rose a slight but notable 0.3%, with the tech-heavy Nasdaq Composite closing 0.6% higher, and the Dow Jones industrial average gaining 0.4%. This market uplift was particularly driven by strong performances from aerospace giant Boeing and chipmaker Intel. Investors are watching to see if this positive momentum continues as the trading week unfolds, signaling a potential shift from recent bearish sentiment. Read more
- Shifting gears to healthcare, pharmaceutical and consumer health giant Johnson & Johnson (NYSE:JNJ) received a boost from Guggenheim, which reaffirmed a Buy rating and set a $206 price target on the stock. This positive outlook is primarily driven by favorable preliminary clinical trial findings for its multiple myeloma therapy, specifically from the MajesTEC-3 trial. This news highlights the strength of J&J’s drug development pipeline and offers a positive catalyst for the company in the competitive pharmaceutical landscape. Read more
- Now to the retail sector, where Walmart, the ubiquitous retail giant (NYSE:WMT), saw its price target increased by Truist Securities to $119 from $109, while maintaining a Buy rating. This upgrade follows Walmart’s solid third-quarter results, which showcased impressive U.S. comparable sales growth of 4.5%. The company’s success was further bolstered by strong performance from its Sam’s Club division and robust international sales. These results underscore Walmart’s resilient position in the consumer market, even amidst broader economic uncertainties. Read more
- Staying in pharmaceuticals, Amgen, the biotechnology powerhouse (NASDAQ:AMGN), maintained a strong outlook from Goldman Sachs. The firm reaffirmed its $400 price target and Buy rating for the company. This comes ahead of two crucial Phase 2 updates for Amgen’s highly anticipated obesity medication, MariTide, which are expected by year’s end. The upcoming data readouts are key catalysts that could significantly impact Amgen’s valuation and its strategic position in the rapidly expanding market for weight-loss drugs. Read more
- And finally, turning our attention to the aerospace and defense sector, RTX Corporation (NYSE:RTX), formerly known as Raytheon Technologies, saw Jefferies lift its price target from $175 to $190. Interestingly, this came while the firm retained a Hold rating on the stock and, at the same time, reduced its 2026 adjusted EPS forecast by 2% to $6.60. This mixed signal suggests that while there might be a higher valuation potential, analysts are maintaining a cautious stance, possibly reflecting underlying concerns despite the company’s strong market position. Read more
Keywords: AMGN, Amgen, Bitcoin, Boeing, Buy rating, Dow Jones, EPS forecast, Goldman Sachs, Guggenheim, Hold rating, Intel, JNJ, Jefferies, Johnson & Johnson, MajesTEC-3, MariTide, Nasdaq Composite, Phase 2 trial, Q3 earnings, RTX, RTX Corporation, S&P 500, Sam’s Club, Truist, WMT, Walmart, aerospace, biotech, biotechnology, comparable sales, defense, equities, healthcare, market rally, multiple myeloma, obesity drug, pharmaceuticals, price target, retail