Big-box retailer Target is proving to be safe from the threat of Amazon, according to J.P. Morgan.
“In our view, TGT does not need to outrun AMZN for a revaluation, rather it needs to outcomp other home and apparel retailers, namely the mall based retailers, department stores, and specialty home retailers, for the valuation rerating to materialize,” J.P. Morgan’s Christopher Horvers said in a note to clients Thursday. “Its continued share gain...should help them outcomp its traditional retail peers and transition to the first bucket of retail.” . . . more