11:47 AM EDT, 08/05/2024 (MT Newswires) -- Walmart's ( WMT ) Q2 results will highlight the company's resilience amid deteriorating consumer trends and showcase its ability to sustain growth and control its destiny, UBS Securities said in an earnings preview on Monday.

The retail giant likely continued gaining market share in the US in Q2, driven by traffic and unit gains, price investments, new private label offerings and a focus on key categories like "back to school," according to the preview.

The bank said Walmart's ( WMT ) operating income growth in Q2 will outpace sales, supported by alternative revenue streams, cleaner inventories and improved ecommerce profitability.

The company is likely raise its full-year guidance if Q2 results exceed the outlook, UBS added.

UBS reiterated its buy rating on Walmart's ( WMT ) stock and kept the price target at $74.

Walmart ( WMT ) shares fell 1.6% to $67.36 in recent trading.

Price: 67.40, Change: -1.07, Percent Change: -1.56