Walmart Inc. (NASDAQ: WMT) closed at $114.36 on Friday, Dec. 19, 2025 (U.S. markets were closed on Saturday, Dec. 20), keeping the retail giant near its 52‑week high of $117.45 and extending a strong 2025 run. [1]
But the conversation around Walmart stock shifted noticeably on Dec. 20, 2025: new weekend analysis split into two camps—one warning that the stock’s premium valuation leaves little room for error, and another arguing Walmart’s “tech-enabled retailer” transformation still isn’t fully priced in. [2]
Below is a full roundup of the latest Walmart stock news, forecasts, and investor takeaways tied to Dec. 20, 2025 coverage—plus the key risk items and catalysts that could matter most into early 2026.
Where Walmart stock stands heading into late December 2025
Here’s the snapshot investors are working with as of the latest market close:
- Last close (Dec. 19): $114.36 [3]
- 52‑week range: $79.81 to $117.45 [4]
- Market cap: about $911B–$920B range depending on data source and timing [5]
- Valuation marker investors keep citing: about 40x earnings (premium multiple for a mass retailer) [6]
- Dividend: ~$0.94 annualized (about 0.8% yield), with an ex‑dividend date in mid‑December [7]
That mix—strong price momentum, mega-cap scale, and a high multiple—sets up the central question behind the Dec. 20 coverage: Is Walmart still a “defensive growth” compounder, or has the market already priced in the best-case scenario? [8]
What’s driving Walmart stock in late 2025
Much of Walmart’s recent stock strength traces back to its Q3 FY26 performance and the company’s push toward higher-margin revenue streams (advertising, membership, and digital fulfillment).
From Walmart’s Q3 FY26 highlights:
- Total revenue up 5.8% (6.0% constant currency) [9]
- Global eCommerce up 27% [10]
- Walmart U.S. eCommerce up 28% (with emphasis on fast delivery and store-fulfilled execution) [11]
- Global advertising up 53% (Walmart Connect in the U.S. up 33%) [12]
- Membership income up 17% globally [13]
- Walmart also pointed to continuing automation and efficiency efforts—e.g., a large share of stores receiving freight via automated distribution and a meaningful portion of eCommerce fulfillment volume automated. [14]
Reuters’ November earnings coverage added that Walmart raised annual sales and earnings forecasts again in 2025, citing strong online sales and broad customer demand. [15]
In other words, by late December, Walmart isn’t being valued as “just” a low-margin retailer. Bulls increasingly frame it as an omnichannel platform with multiple margin levers—especially ads, membership income, and delivery economics. [16]
Walmart stock forecasts: what analysts are projecting now
The consensus view: positive ratings, modest upside
MarketBeat’s aggregated Wall Street view shows:
- Consensus rating: “Moderate Buy”
- Average 12‑month price target:$120.54
- Range of targets:$91 (low) to $135 (high) [17]
At the Dec. 19 close of $114.36, that average target implies only mid‑single‑digit upside—a sign that even bullish analysts see Walmart as closer to “priced well” than “deeply discounted.” [18]
A second aggregator, StockAnalysis, similarly flags a bullish analyst posture overall, listing a “Strong Buy” consensus and a roughly $119 price target (again, low single-digit upside). [19]
A notable analyst update investors cited this week
One of the clearest “forecast” datapoints circulating around this window came from Truist Securities (published Dec. 17):
- Truist raised its price target to $127 from $119, while keeping a Hold rating
- Truist argued Walmart’s performance has been strong across segments, highlighted market-share capture from higher-income shoppers, and discussed how tariffed products could influence retail pricing gaps in 2026
- Truist also explicitly addressed the valuation debate, noting Walmart trading around 40x forward EPS while arguing the premium can be justified [20]
That mix—higher target, but still “Hold”—captures the current Street tension: many analysts like Walmart’s business trajectory, but they’re cautious about how much upside remains after the rally. [21]
Dec. 20, 2025 analysis roundup: the bull case vs the bear case for Walmart stock
Several Dec. 20 pieces framed Walmart shares through sharply different lenses.
The bear case: “great company, expensive stock”
A widely circulated Dec. 20 valuation warning came from Trefis, which argued Walmart’s stock looked unattractive at current levels and floated the question of whether WMT could fall to $80. The key logic: Walmart’s multiple is high relative to its growth and margin profile, which can amplify downside risk if growth slows or if the market de-rates consumer staples/retail valuations. [22]
Whether or not investors agree with the $80 figure, this “valuation first” framework became a defining counterweight to the bullish narrative on Dec. 20. [23]
The bullish-to-neutral case: “still not fully priced for its transformation”
On the other side, Simply Wall St’s Dec. 20 analysis asked whether Walmart remained undervalued after its rally and suggested the stock was only modestly above or below fair value—putting a fair value estimate around $119 and framing WMT as about 4% undervalued at roughly $114. [24]
This view leans on Walmart’s momentum and long-term shareholder record, while emphasizing that higher-margin engines (not just groceries and general merchandise) are part of the story investors increasingly pay for. [25]
The holiday-quarter narrative: “Walmart is winning the value war”
A separate strand of analysis focused on late-December retail dynamics. A 24/7 Wall St. investing piece (published the day prior but actively circulated in the Dec. 20 reading cycle) argued Walmart was positioned for a strong holiday quarter as more shoppers prioritize value—framing a “pairs trade” logic that favored Walmart over Target due to diverging fundamentals and execution. [26]
Even though that article is opinionated, it reflects a real market theme heading into 2026: in a price-sensitive environment, scale and convenience can concentrate demand toward Walmart’s ecosystem. [27]
Current risk watch: legal and regulatory headlines investors are pricing in
While Dec. 20 coverage leaned heavily into valuation and holiday-quarter positioning, investors are also tracking several late‑December risk items that could affect sentiment.
FDA warning letter and recalled infant formula scrutiny
The FDA posted a warning letter to Walmart dated Dec. 12, 2025 tied to recall effectiveness, and Reuters reported that warning letters went to Walmart and other retailers over recalled infant formula issues. [28]
Analyst commentary and market notes have cited this as a reputational/compliance overhang—even if the financial impact is likely limited for a company of Walmart’s size. [29]
PepsiCo/Walmart price-fixing class action allegations
Reuters reported on Dec. 16, 2025 that PepsiCo and Walmart were hit with a consumer class action alleging a long-running price-fixing scheme affecting Pepsi soft drink prices at other retailers. [30]
Trade press coverage in the days after reiterated the claims and noted both companies’ public responses (denying wrongdoing/defending pricing practices). [31]
Separately, The American Prospect published commentary around an unsealed FTC-related complaint and broader pricing dynamics involving Pepsi and Walmart—useful as context, but best read as analysis rather than a definitive legal conclusion. [32]
Credit card “swipe fee” litigation and settlement objections
Reuters reported that Walmart and other retailers objected to a proposed Visa/Mastercard antitrust settlement, arguing it provides limited fee relief and doesn’t address key network rules. [33]
Payments industry reporting also highlighted Walmart’s efforts to separate large merchants’ interests within the litigation process. [34]
For Walmart investors, the stakes are straightforward: interchange fees affect retail cost structure at scale, and legal outcomes could shift the economics of card acceptance over time. [35]
What could move Walmart stock next
Looking ahead from the Dec. 20, 2025 backdrop, the likely drivers fall into a few buckets:
- Holiday and post-holiday demand signals: any evidence that Walmart is gaining incremental share (especially among higher-income households) reinforces the “value + convenience” thesis. [36]
- Margin trajectory: investors are watching whether advertising, membership income, and fulfillment efficiency can keep expanding profit dollars even if retail pricing stays competitive. [37]
- Valuation sensitivity: with WMT trading around ~40x earnings in several data sources and commentaries, any macro shock—or even a normalization in multiples—can matter more than usual. [38]
- Executive and strategy continuity: Walmart’s leadership transition timeline and tech-forward positioning (including the Nasdaq move) remain part of the longer-term narrative investors cite. [39]
- Scheduled investor visibility: Walmart previously disclosed leadership participation in major investor conferences (including early December and into 2026), which can create incremental headline flow even without earnings. [40]
Bottom line for Dec. 20, 2025: Walmart stock looks strong—just not cheap
The Dec. 20, 2025 Walmart stock conversation can be summarized in one line: the business momentum is hard to argue with, but the valuation is no longer forgiving. [41]
Bulls point to eCommerce growth, advertising expansion, membership income, and automation as proof that Walmart’s model is evolving into something more durable (and potentially more profitable) than a traditional big-box retailer. [42]
Skeptics counter that even a world-class operator can be a risky stock when the market is already paying a premium multiple—especially with legal/regulatory headlines still circulating into year-end. [43]
References
1. www.investing.com, 2. www.trefis.com, 3. www.investing.com, 4. www.investing.com, 5. stockanalysis.com, 6. stockanalysis.com, 7. stockanalysis.com, 8. www.trefis.com, 9. corporate.walmart.com, 10. corporate.walmart.com, 11. corporate.walmart.com, 12. corporate.walmart.com, 13. corporate.walmart.com, 14. corporate.walmart.com, 15. www.reuters.com, 16. corporate.walmart.com, 17. www.marketbeat.com, 18. www.marketbeat.com, 19. stockanalysis.com, 20. www.investing.com, 21. www.investing.com, 22. www.trefis.com, 23. www.trefis.com, 24. simplywall.st, 25. simplywall.st, 26. 247wallst.com, 27. 247wallst.com, 28. www.fda.gov, 29. www.investing.com, 30. www.reuters.com, 31. www.foodmanufacturing.com, 32. prospect.org, 33. www.reuters.com, 34. www.paymentsdive.com, 35. www.reuters.com, 36. 247wallst.com, 37. corporate.walmart.com, 38. stockanalysis.com, 39. www.reuters.com, 40. corporate.walmart.com, 41. corporate.walmart.com, 42. corporate.walmart.com, 43. www.trefis.com
