Walmart’s plan to ramp up store openings could boost the stock’s multiple, according to Jefferies analysts Corey Tarlowe and Randal Konik. The big-box retailer says that it will open or expand 150 new stores in the U.S. in the next five years. The analysts say in a research note that over the past 25 years, store count accelerations have correlated with the stock increasing its earnings multiple, including from 1999 to 2001 and from 2012 to 2015, with some exceptions. They view the move as helping the company’s growth prospects. Shares rise 0.4% to $166.32.