Walmart (WMT) has gone through an overhaul on an executive level, just two weeks before its CEO transition. John Furner is already set to take over from current Chief Doug McMillon. However, the company has also announced that its CEO of Walmart International, Kathryn McLay, would depart on January 31. McLay will stay through the first quarter “to help ensure a smooth transition,” the company said in a Thursday statement.

McLay was named CEO of Walmart’s wholesale membership retailer Sam’s Club in 2019, then took the helm of its international operations in 2023. Taking Furner’s role as Walmart US CEO will be David Guggina, who currently oversees all US e-commerce operations. Worryingly, WMT shares took a slight tumble on Friday after the announcement, dipping 2%.

While the slight downtick could be viewed as worrisome, analysts have still seen stellar growth for Walmart (WMT) stock as of late. Shares in Walmart (WMT) stock hit a new all-time high of $120 on Tuesday. Additionally, the stock is set to join the Nasdaq-100 Composite, a move that will surely drive shares even higher.

Wall Street expects a strong climb in Walmart (WMT) shares by the end of this year. Per analysts at BTIG, Walmart’s integrated digital and physical strategy is “delivering value” to customers and shareholders. Additionally, CEO Doug McMillon has positioned the company for continued market share and profit gains despite macro pressures. As a result, BTIG has initiated a buy rating on WMT with a $120 price target. With shares currently trading above $119, that target appears ready to be achieved as soon as this week, paving the way for higher forecasts, such as Tigress Financial’s projection of $130.