10:37 AM EDT, 08/13/2025 (MT Newswires) -- Walmart ( WMT ) could have a positive guidance revision cycle soon after a challenging start of the year with tariff and expense headwinds, Oppenheimer said in a Wednesday note ahead of the company's Q2 results on Aug. 21.

"We believe the company could lift FY25 financial targets either with the upcoming Q2 report or with the Q3 print," the note said.

For Q2, the analysts said they expect a "solid all-around top-line delivery" that meets the high-end of the company's constant currency sales guidance of 3.5% to 4.5%.

They said Walmart ( WMT ) could benefit from increasing tailwinds related to tariff-induced inflation, including potential upside from price increases on like-for-like items. They also observed "very solid" store conditions following checks in multiple geographies.

The analysts said strong execution and increased confidence in its longer-term financial delivery have contributed to outsized share price gains in recent quarters.

Oppenheimer raised its price target on the stock to $115 from $110 while reiterating its outperform rating.

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