Oppenheimer downgrades Walmart to Perform, saying upside looks limited

Oppenheimer cut its rating on Walmart to Perform from Outperform on August 4, ahead of the second-quarter report. The move reflected the view that expectations already left little room for upside in the shares. It came two weeks before a report that sent the stock down about 9%.

• Rating cut to Perform from Outperform on Aug 4, 2026
• Issued before the Aug 20 second-quarter results
• Stock fell about 9% on Aug 20