12:18 PM EST, 11/10/2025 (MT Newswires) -- Walmart ( WMT ) is set to deliver a strong Q3 sales with strong momentum across e-commerce, grocery and health & wellness, but fiscal 2026 guidance is expected to be updated conservatively, Oppenheimer said in a note Monday.

Oppenheimer models Q3 US comparable sales growth of about 4%, versus the Street estimate of 3.9% growth, and sales growth of 4.2% on a constant-currency basis, versus Walmart's ( WMT ) guidance of 3.75% to 4.75%. It also raised its earnings estimate to $0.59 per share from $0.58.

The firm said it expects management to update fiscal 2026 guidance, likely only lifting the lower end of the $2.52 to $2.62 EPS range.

Oppenheimer said "store conditions remain very solid," with healthy inventory levels and limited apparel clearance. It continues to view Walmart's ( WMT ) premium valuation as justified by steady sales and profit growth, according to the note.

Walmart ( WMT ) will report Q3 results on Nov. 20.

Oppenheimer has an outperform rating on Walmart ( WMT ) and a $115 price target.

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