Thursday, May 31, 2018

Target shares jump as Bank of America calls it a top pick and a good bet on ‘aging millennials’

Target shares will rise as the discount retailer benefits from aging demographics, according to Bank of America Merrill Lynch.

"We believe the company should benefit from the discount store cycle … given our view that TGT's efforts to turn around its US business should accelerate in 2018 and result in market share gains longer-term," analyst Robert Ohmes said in a note to clients Wednesday. "The Discount Store cycle that we expect to play out over the next 5-10 years [is] supported by … demographics as aging Millennials and Baby Boomers support growth of budget conscious consumers." . . . more