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TGT

Target

$61.72

0.71 (1.16%)

11:01
12/13/17
12/13
11:01
12/13/17
11:01

Target to buy same-day delivery platform Shipt for $550M in cash

Target announced it has agreed to acquire Shipt, Inc., an online same-day delivery platform, for $550M in cash. Target will leverage its network of stores and Shipt's proprietary technology platform and community of shoppers to quickly and efficiently bring same-day delivery to guests across the country. The acquisition significantly accelerates Target's digital fulfillment efforts, bringing same-day delivery services to guests at approximately half of Target stores by early 2018. The service will be offered from the majority of Target stores, and in all major markets, before the 2018 holiday season. At launch, Target will offer same-day delivery of groceries, essentials, home, electronics and other products, while expanding the products offered over time. By the end of 2019, same-day delivery will include all major product categories at Target. The transaction is subject to customary closing conditions and is expected to close prior to the end of calendar year 2017. This all-cash acquisition will be immaterial to Target's near-term financial results. It is expected to be modestly accretive to the company's earnings per share in 2018, while accelerating digital and total sales growth over the medium term. "We laid out an ambitious strategic agenda in early 2017, which included a focus on giving our guests a number of convenient ways to shop with Target, whether it's ordering online and picking up in one of our stores, driving up to pick up an order, or taking advantage of services like our new Restock program. With Shipt's network of local shoppers and their current market penetration, we will move from days to hours, dramatically accelerating our ability to bring affordable same-day delivery to guests across the country," said John Mulligan, EVP and COO for Target. "By the 2018 holiday season, we will be servicing every major market across the country with same-day delivery, and Shipt's service-oriented approach aligns well with Target's commitment to delivering an exceptional shopping experience for our guests."

TGT Target
$61.72

0.71 (1.16%)

11/03/17
WELS
11/03/17
INITIATION
Target $62
WELS
Market Perform
Target initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Edward Kelly started Target with a Market Perform rating and $62 price target. Target s one of the most exposed retailers to the digital threat, the analyst contends. He sees no catalyst for share outperformance at the moment.
11/08/17
11/08/17
DOWNGRADE
Target $15

Underweight
Sally Beauty cut to sell at Morgan Stanley as competition 'catches up'
As previously reported, Morgan Stanley analyst Simeon Gutman downgraded Sally Beauty to Underweight, the firm's equivalent to a sell rating, from Equal Weight. Its retail segment is facing tougher competition while its professional segment is decelerating, he stated. While the stock is down 15% since the company's Q3 report, that does not fully reflect the headwinds Sally Beauty faces amid competitive pressures from Wal-Mart (WMT) Target (TGT), Ulta (ULTA) and drugstores catch up, Gutman tells investors. He lowered his price target on Sally Beauty shares to $15 from $22.
11/15/17
BARD
11/15/17
NO CHANGE
Target $55
BARD
Neutral
Target modernization efforts weighing on profits, says Baird
Baird analyst Peter Benedict maintains a Neutral rating and $55 price target on Target shares following this morning's Q3 results. The retailer's Q4 outlook, with earnings down 20% year-over-year at the midpoint, "reinforced the cost of driving sales in a highly competitive backdrop," Benedict tells investors in a post-earnings research note. The analyst believes Target's modernization efforts are weighing on profits and he sees low visibility into a margin inflection.
12/04/17
MOFT
12/04/17
INITIATION
MOFT
Neutral
Target initiated with a Neutral at MoffettNathanson

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TGT

Target

$75.42

-1.44 (-1.87%)

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REX

REX American Resources

$76.62

-0.5 (-0.65%)

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REX American Resources reports Q1 EPS $1.45 vs. 69c last year »

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ALKS

Alkermes

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0.35 (0.77%)

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KOOL

Cesca Therapeutics

$0.53

0.0307 (6.14%)

07:04
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Initiation
Cesca Therapeutics initiated  »

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NCI

Navigant Consulting

$24.00

-0.19 (-0.79%)

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Navigant Consulting, Lumere announce collaboration to reduce clinical variation »

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ACRX

AcelRx

$2.95

0.05 (1.72%)

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Three Arch's shares of AcelRx stock acquired in deal led by Leerink Revelation »

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07:02
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General news
MBA Mortgage Applications Composite Index data reported »

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ANTM

Anthem

$234.12

0.52 (0.22%)

07:02
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Hot Stocks
Anthem to acquire Aspire Health, financial terms not disclosed »

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MINE

Minerco Resources

$0.00

(0.00%)

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Minerco acquires controlling interest in Priwen Systems »

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XCRA

Xcerra

$14.01

0.31 (2.26%)

07:02
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Earnings
Xcerra reports Q3 non-GAAP EPS 24c, consensus 20c »

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SO

Southern Company

$43.55

0.13 (0.30%)

07:01
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Hot Stocks
Southern Power to sell minority stake in solar portfolio for $1.175B to GAFG »

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SPX

S&P 500

$0.00

(0.00%)

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Technical Analysis
S&P 500: Pivot points »

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ACM

Aecom

$33.33

-0.02 (-0.06%)

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Hot Stocks
Aecom awarded 15-year $3.1B U.S. Air Force contract »

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AET

Aetna

$177.66

0.08 (0.05%)

, CVS

CVS Health

$65.59

0.09 (0.14%)

06:58
05/23/18
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06:58
Recommendations
Aetna, CVS Health analyst commentary  »

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AET

Aetna

$177.66

0.08 (0.05%)

CVS

CVS Health

$65.59

0.09 (0.14%)

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FTR

Frontier Communications

$9.55

-0.06 (-0.62%)

06:58
05/23/18
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06:58
Periodicals
Frontier in talks with bondholders after failed asset auction, Bloomberg reports »

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TOL

Toll Brothers

$39.46

-4.14 (-9.50%)

06:55
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06:55
Recommendations
Toll Brothers analyst commentary  »

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FB

Facebook

$183.81

-0.67 (-0.36%)

06:53
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Periodicals
Facebook's upper ranks never seem to leave company, Recode reports »

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TIF

Tiffany

$102.26

-0.96 (-0.93%)

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Breaking Hot Stocks news story on Tiffany »

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REGN

Regeneron

$294.72

-1.86 (-0.63%)

, SNY

Sanofi

$38.93

0.15 (0.39%)

06:52
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Recommendations
Regeneron, Sanofi analyst commentary  »

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REGN

Regeneron

$294.72

-1.86 (-0.63%)

SNY

Sanofi

$38.93

0.15 (0.39%)

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MRK

Merck

$58.46

-0.1 (-0.17%)

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Hot Stocks
Merck announces Keytruda met the dual primary endpoints in KEYNOTE trial »

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TIF

Tiffany

$102.26

-0.96 (-0.93%)

06:51
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Earnings
Tiffany raises FY18 EPS view to $4.50-$4.70, consensus $4.42 »

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GDX

Market Vector Gold Miners

$22.12

-0.22 (-0.98%)

06:51
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Technical Analysis
Market Vector Gold Miners: Pivot points »

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GLD

SPDR Gold Trust

$122.42

-0.05 (-0.04%)

06:50
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SPDR Gold Trust: Pivot points, pivot high broken »

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NUGT

Direxion Gold Miners Bull

$24.47

-0.49 (-1.96%)

06:49
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Direxion Gold Miners Bull: Pivot points »

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HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

, MSFT

Microsoft

$97.56

-0.04 (-0.04%)

06:49
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06:49
Recommendations
HP Enterprise, Microsoft analyst commentary  »

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HPE

HP Enterprise

$17.49

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MSFT

Microsoft

$97.56

-0.04 (-0.04%)

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