Walmart's resilience tested amid consumer slowdown warnings
Company's resilience will be tested amid signs of consumer slowdown, analyst says
Analyst: Its resilience will be tested amid signs of consumer slowdown
Walmart shares moved higher in early Monday trading as a Wall Street analyst made a key investment call ahead of the company's first-quarter earnings report due next week.
Telsey Advisory Group analyst Joseph Feldman reiterated a "buy" rating amid the company's resilience during past economic downturns.
However, Feldman acknowledged the challenges facing Walmart as the Federal Reserve raises interest rates to combat inflation at a four-decade high.
"We view Walmart as a relative safe haven during periods of economic uncertainty," Feldman wrote in a note to clients. "The company's value proposition is resonating with consumers, and we expect it to continue to gain market share in the years to come."
Walmart is scheduled to report its first-quarter earnings on May 17 before the market open.
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