Target's (TGT) Omnichannel Solution Could Add 90bp to Comps

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Target (NYSE: TGT) is planning to launch an omnichannel solution called Cartwheel to help it better compete with online competitors, according to Piper Jaffray analyst Sean Naughton.

Cartwheel will integrate online and mobile channels, and will have features including coupons, rebates, price comparisons and product reviews, among other. Once launched, analysts think Cartwheel may add 40 to 90 basis points to comps in 2014.

Piper Jaffray has an Overweight rating on Target (NYSE: TGT) with a price target of $71.

For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.

Shares of Target closed at $64.13 yesterday, with a 52 week range of $47.25-$64.99.

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