Walmart's disappointing profit view to 'outweigh' encouraging sales, says Baird Baird analyst Peter Benedict noted that softer margins, higher expenses, and a higher tax rate drove an EPS shortfall at Walmart, which also "unexpectedly" adjusted FY22 guidance to include higher sales but lower profits. Though he said he senses "some conservatism at play," the disappointing profit performance and outlook will outweigh the "encouraging" sales performance today, contends Benedict. For now, he has an Outperform rating and $160 price target on Walmart shares