Target (TGT) Reiterated at Buy by DA Davidson

DA Davidson analyst Michael Baker reiterated a Buy rating on Target (NYSE: TGT).

The analyst commented, "Most of the bigger brands (i.e., MB Social’s clients) do some business with Walmart, although Ulta and Sephora remain most brands primary retail partners. In general, while Ms. Banks can see Walmart’s greater efforts in beauty, in her words, “Walmart is not quite their yet”. That said, we note their mid-single digit comp last quarter as a sign that they are starting to get there. Ms. Banks believes that the Target Beauty Shop and dis-engagement from Ulta can be a win-win for both retailers. For Target, they will now control the experience, which should be a benefit. And for Ulta, they can now re-own the customer relationships that were using the Ulta store-within-a-store set ups in Target."

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 $159.02 yesterday.

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