It looks like inflation is heating up again. That could mean higher interest rates for longer, thus tightening financial conditions that could eventually tip the economy into recession.

In such an environment, (NYSE: WMT) is a no-brainer for defensive investors. It is a consumer stronghold that does well when people want to tighten their budgets. But investors have gotten a head start on scooping up shares. The stock has soared over the past 12 months, appreciating 20%.

It's fair to wonder whether there's still opportunity here, or if Walmart's a trap waiting to ensnare unsuspecting investors. Here is what you need to know.

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Source Fool.com