Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 12, 2024

Article Excerpt

WALMART INC., $60.14, New York symbol WMT, is a buy. The company is the world’s biggest retailer, with over 10,500 outlets in 19 countries. Walmart is also an investor in Ibotta Inc., a private firm that operates mobile and online apps that provide shoppers with special offers and the ability to earn cash rewards. In addition to Walmart, it handles promotions for more than 2,400 brands, including Coca-Cola, Whirlpool and Hallmark. Ibotta now plans to raise about $472.5 million in an initial public offering; the shares will trade on the New York exchange under the “IBTA” symbol. That would value the entire company at $2.55 billion. The IPO should significantly boost the value of Walmart’s roughly 5% stake. What’s more, Ibotta’s expertise with artificial intelligence is helping the company better target prospective customers and encouraging them to spend more in its stores and websites. Walmart is a buy. Walmart recent coverage: Hotline for February 23, 2024 Hotline for February 2, 2024 CHEVRON CORP., $158.96, New York symbol CVX, remains…