During the coronavirus market turmoil, the S&P 500 has cratered 25%, while Walmart's stock is up 2%.
"The unfortunate spread of the COVID-19 virus has created an unprecedented spike in demand for grocery and household products, as consumers prepare for weeks of school closures, work from home and restaurant closures," Credit Suisse research analyst Seth Sigman said in a note to clients following his upgrade of the stock to outperform on Wednesday.
As the coronavirus continues to spread across the United States, stores like Walmart had problems keeping up with the high demand for paper goods leading to empty shelves on March 14, 2020 in Uniondale, New York."We believe the company is well positioned to still deliver on financial targets," Oppenheimer analyst Rupesh Parikh told clients while upgrading the stock to buy.
For Credit Suisse, Walmart isn't just a short-term play here. The firm said it expects this unfortunate period to accelerate "structural changes in consumer shopping," for five or more years, as people are introduced to new shopping methods like online grocery and curb-side pickup.
Buy $WMT
Buy Walmart, Amazon, Target, food delivery.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
AWS, Microsoft and Google Cloud face 3 risks during coronavirus crisis - Business InsiderAmazon Web Services, Microsoft Azure, and Google Cloud may be 'recession-proof,' but still face coronavirus-related risks like sales slowdowns.
続きを読む »