She added: "This is basically confirmation and now the settling down of the estimates. People look at the valuation and say what do we see for 2014."
Telsey said her target on the stock overall was around $80 a share.
For the fourth quarter, Walmart U.S. saw same-store sales increase 1 percent, gaining market share in food, consumables, health & wellness, as well as the entertainment categories and toys, the company said. A year earlier, Walmart U.S. same-store sales rose 1.5 percent.
Wal-Mart doesn't normally break down a quarter, but it did for the holiday season. The company said that in the U.S. the holiday season kicked off with strong Thanksgiving and Black Friday sales. Cyber Monday was also Walmart.com's highest sales day ever.
The company noted, however, that the "first three weeks of December were soft, given our Black Friday success and the additional shopping days this year, but we rebounded with double-digit positive comps the week of Christmas, and continued with strength into the first part of January. "
Wal-Mart's effective tax rate for the fourth quarter was 27.7 percent, lower than expected 32.5 percent to 33.5 percent, and below 30.9 percent for the year-earlier quarter. Net interest expense was also lower by 9.8 percent, the company said, "primarily from revisions to various interest accruals related to U.S. and international tax matters."
Wal-Mart said it expects to earn between $1.11 and $1.16 a share in the first-quarter, which is lower than analysts' forecasts. According to Thomson Reuters, the average analyst forecast for first-quarter earnings was $1.18 a share.
Wal-Mart projected its full-year earnings in the range of $5.20 to $5.40 a share, compared with an estimate of $5.37 a share.
The retailer spent $157 million last year on its own probe of alleged bribery allegations in Mexico, Brazil, China and India. A New York Times article in April 2012 unveiled alleged bribery at the major Mexican unit.
The company said its forecast includes about $40 million to $45 million in first-quarter costs related to foreign corrupt practices act and compliance matters.
Wal-Mart said its fiscal year 2014 dividend would be $1.88 per share, up from $1.59 per share in fiscal 2013.
—Reuters contributed to this article.