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USA: Target could be retailer most affected by Amazon deal

USA: Target could be retailer most affected by Amazon deal

Junio 19, 2017

Autor/Fuente: By: Carl Surran, Seeking Alpha 👤Periodista: María Alejandra Lopez 🕔19.Jun 2017

 

Target (NYSE:TGT) could be the retailer most impacted by the huge Amazon-for-Whole Foods deal, some analysts argue.

The deal is bad news for TGT, according to Gordon Haskett Research Advisors, in light of AMZN’s more affluent customer overlap with TGT and TGT’s struggles with its grocery business; the firm says TGT “should use today’s news to substantially accelerate its investments in price/grocery/store experience/e-commerce.”

UBS analysts view the deal as negative for TGT, “as it could further complicate efforts to gain traction creating a stronger, better-for-you good offering in its stores,” adding that Costco’s (NASDAQ:COST) “limited assortment, low cost structure, and deep private label penetration probably means its fortunes will be preserved, at least for the foreseeable future.”

But today was a TGT buying opportunity for Jenny Van Leeuwen Harrington, portfolio manager at Gilman Hill Asset Management, as the pullback was “wildly overdone given the company’s health and premier position in a segment of the retail market that remains critical to the fabric of America’s shopping needs.”

Gilman Hill also likes TGT’s free cash flow generation of more than $5/share, which also means the $2.36 dividend has “more than sufficient coverage as we look ahead.”

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