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