Reported 6 months ago
Target reported a 3.7% decline in year-over-year comparable sales in its first-quarter earnings, with mixed results on the top and bottom lines. Analyst Michael Lasser from UBS sees this as a buying opportunity for investors due to Target's strong earnings potential, estimating earnings of $9.50 this year and $10 next year, with the stock currently trading at a low multiple. Despite challenges like inflation and credit card debt impacting consumers, Target's initiatives to lower prices on products and introduce private label items are expected to drive better trends and help regain lost market share. Comparing Target to Walmart, which is currently experiencing better near-term momentum, both retailers are seen as strong investments with attractive valuations.
Source: YAHOO