Walmart shares were the second-biggest gainer on the Dow Jones index on Tuesday morning, buoyed by UBS, which raised its price target on the stock.

At around 10.45 a.m. (New York time), the American retail giant's shares were up 1.3%, compared with a 0.2% gain at the same time for the Dow.

In a note released in the morning, UBS said it expects a "solid start to the year" from the supermarket chain, which it believes should have benefited from favorable commercial momentum.

"While it is true that the stock has been the object of definite interest and market support for some quarters, we believe that the forthcoming publication will serve to reinforce this well-deserved respect", it explains.

From UBS's point of view, the results to be unveiled next week should 'tick all the boxes' at a time when household consumption is beginning to weaken.

In particular, the analyst expects market share gains and progress in the evolution of its business model, more focused on automation and new sources of revenue, which should boost the share price in the short term.

UBS, which has a Buy recommendation on the stock, has therefore raised its price target from $63 to $69, representing potential upside of around 15%.

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