Walmart (WMT) is still positioned for outperformance thanks to longer-term prospects and its ability to continue gaining share, Oppenheimer said in a Friday note.

Following Analyst Day Events at Walmart, Oppenheimer analysts said they walked away incrementally upbeat.

"For longer-term players, we would continue to take advantage of any dips," they said. "We believe WMT remains an attractive place to hide and can outperform in the current tape."

The analysts also pointed to increasing contribution from its alternative revenue sources, benefits from its investments in e-commerce, and improved international footprint.

Oppenheimer raised its price target on the stock to $100 from $95 after updating its forecasts.

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