Walmart stock moves higher after Deutsche Bank upgrades to Buy, raises price target

In an ongoing inflationary environment, Walmart (WMT) is poised to win, according to Deutsche Bank analyst Krisztina Katai, who upgraded the stock to a Buy rating from Neutral on Thursday morning. "We believe the current inflationary environment should reinforce Walmart's value proposition and support accelerated share gains, while we think investors are starting to increasingly look beyond the headline pressure on U.S. comp.," Katai wrote in a note to clients. According to the Bureau of Labor Statistics' September Consumer Price Index, overall inflation rose 3.7% in September, an acceleration from 3.4% in August. Grocery prices increased by 1.8%, but were roughly flat month over month. Walmart stock popped 3% in premarket trading.