MKM Partners Remains Sidelined on Target (TGT) and Wal-mart (WMT) Ahead of 2Q Reports
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
MKM Partners reiterated Neutral ratings on both Target (NYSE: TGT) and Wal-mart (NYSE: WMT) ahead of 2Q results. Price targets for both companies have been raised, with TGT up to $78.00 (from $73.00) and WMT to $71.00 (from $67.00).
Analyst Patrick McKeever commented, "Both stocks have been strong recently along with the rest of retail and the market, but we don't think much has changed fundamentally. We wouldn't be surprised by upside EPS at Walmart but think the potential for improving comps is greater with Target, given new merchandise lines in children's, improvements in grocery, and benefits from the CVS (NR, $97.43) partnership. We note the 3+ point valuation gap, with TGT at 13.5x our 2017 EPS estimate and WMT at 16.6x."
Shares of Target closed at $75.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Visa (V) PT Trimmed to $93 at Stifel With Initial 2017 Guidance a Touch Light
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!