Walmart (WMT:NYE) has filed a lawsuit against Capital One Financial (COF:NYE) over their partnership in the credit card industry. Walmart asserts that Capital One’s failure to promptly update payment information and replace lost cards within five days violates customer service standards.
Capital One responded by stating that it is defending its contractual rights in court and that it believes Walmart is attempting to renegotiate or terminate the agreement prematurely. Walmart has announced that it will collaborate with its fintech division to issue cards and launch a new card in the near future.
Walmart Stock Forecast:
Wall Street analysts continue to be confident in Walmart stock forecast despite the lawsuit, with a Strong Buy consensus rating. The average price target of $162.18 per analyst indicates a potential upside of 9.4%. Year-to-date, WMT stock shares have risen 5.5%.
Capital One Stock Forecast:
In contrast, the COF stock consensus rating on Stock Target Advisor is Hold. The average price target of $115.61 suggests a 19.3% upside potential. So far in 2023, the stock price has increased by 2.6%.
