Is the Stock Market Too Concentrated?
History says no.
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Target was set to open its first downtown store but recently decided to pull out of downtown with no explanation
These beaten-down stocks are built to deliver long-term wins.
We plan to increase our $127 fair value estimate for no-moat Target (TGT) by a mid-single-digit percentage after the company posted strong fourth-quarter earnings. While management’s outlook for fiscal 2021 operating margin is softer than our prior view, our long-term expectations remain (low-single-digit percentage sales growth, 6%-7% adjusted operating margins). Although Target has admirably adapted to sharp pandemic-era e-commerce growth, we suggest long-term investors await a more attractive entry point, considering long-term competition in a retail environment without meaningful custom...