Walmart jumps on raising FY forecasts; lifts rival Target's shares
** Shares of Walmart WMT.N up 6.5% at $73.11 in premarket trading
** Big box retailer raises FY profit, sales forecasts as Americans kept flocking to its stores for inexpensive everyday essentials and as it sold more higher-margin ads to product companies
** Co expects annual adjusted profit per share to be between $2.35 and $2.43, vs. prior expectations to potentially better or be at the high end of a range of $2.23 to $2.37/shr
** Also sees FY 2025 consolidated net sales to increase 3.75% to 4.75%, compared with previous projection of 3-4%
** Shares of rival Target TGT.N were up 2.8% before the bell
** As of last close, WMT stock had risen 30.6% YTD, while TGT dropped 4.7% during the same period
Reporting by Granth Vanaik in Bengaluru
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