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TGT

Target

$84.20

1.67 (2.02%)

, WMT

Walmart

$112.99

0.32 (0.28%)

07:40
08/17/19
08/17
07:40
08/17/19
07:40

Grocery Outlet thriving as rivals struggle, Barron's says

While Dow was down 800 points on Wednesday, Grocery Outlet (GO) jumped 5% on earnings, Jack Hough writes in this week's edition of Barron's. Meanwhile, other grocers are "getting squeezed" and mass merchants Walmart (WMT) and Target (TGT) are helping themselves to market share, the author notes. Reference Link

TGT

Target

$84.20

1.67 (2.02%)

WMT

Walmart

$112.99

0.32 (0.28%)

GO

Grocery Outlet

$46.55

2.81 (6.42%)

  • 21

    Aug

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    Sep

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    Sep

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    Sep

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    Nov

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    Nov

TGT Target
$84.20

1.67 (2.02%)

08/05/19
DBAB
08/05/19
UPGRADE
Target $99
DBAB
Buy
Deutsche Bank upgrades Target to Buy, boosts price target to $99 from $85
Deutsche Bank analyst Paul Trussell upgraded Target to Buy from Hold and raised his price target for the shares to $99 from $85. The retailer closed Friday down $1.10 to $81.52. Target is "growing profitably" with EBITDA dollars up mid-single-digits in Q1, a pace that can be sustained through supply chain enhancements, market share gains in key categories often with higher margin private brands, and strong returns on remodels and new small format stores, Trussell tells investors in a research note. Despite the company's "unequivocal success recently," the shares still trade at a multiple slightly below its historical average and now "well below other strong comping staple retail peers," says the analyst. Trussell believes a "robust" Q2 earnings report is possible, driving Target toward its first double-digit two-year stack comp since 2006. With that, investor doubts "should subside and the stock should move closer to a market multiple," he contends.
08/05/19
08/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Target (TGT) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying Target is "growing profitably" with EBITDA dollars up mid-single-digits in Q1, a pace that can be sustained through supply chain enhancements, market share gains in key categories often with higher margin private brands, and strong returns on remodels and new small format stores. 2. Owens-Illinois (OI) upgraded to Neutral from Sell at Goldman Sachs with analyst Brian Maguire saying the negative catalysts around lower volume and higher taxes have materialized with the stock underperforming since reporting a miss in Q2 earnings last week. 3. AB InBev (BUD) upgraded to Hold from Underperform at Jefferies with analyst saying the company is pivoting to growth while concerns on its leverage are easing. 4. CF Industries (CF) upgraded to Neutral from Underperform at BofA/Merrill with analyst Steve Byrne saying the company's "strong" Q2 results show operational strength and an improving outlook. 5. Builders FirstSource (BLDR) upgraded to In Line from Underperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/12/19
BARD
08/12/19
NO CHANGE
Target $90
BARD
Outperform
Target remains Fresh Pick as good value still seen, says Baird
Baird analyst Peter Benedict said he still sees good support for Target's Q2 comp expectations and he remains comfortable with his and the Street's estimates. The analyst sees several drivers which can help sustain solid top-line momentum and with an improved follow through, he believes guidance remains secure. Benedict reiterated his Outperform rating and $90 price target on Target shares.
08/12/19
CLVD
08/12/19
NO CHANGE
CLVD
Neutral
Target Q2 comps look set to miss consensus, says Cleveland Research
Cleveland Research analyst Scott Bender said his checks suggest Target's sales seemed to improve in July, but not by quite enough to offset softer trends earlier in the quarter. The analyst, who now sees Q2 comps as likely to miss consensus and come in on the lower end of Target's guidance, has a Neutral rating on Target shares.
WMT Walmart
$112.99

0.32 (0.28%)

08/16/19
BMOC
08/16/19
NO CHANGE
Target $125
BMOC
Outperform
Walmart price target raised to $125 from $115 at BMO Capital
BMO Capital analyst Kelly Bania raised her price target on Walmart to $125 and kept her Outperform rating, after its "strong" Q2 results, saying the company continues to take market share in the grocery store space while making the right investments in e-commerce to sustain earnings growth in the future. The analyst notes that despite the weather headwinds in seasonal categories, Walmart's EBIT remained on "solid trajectory" and its e-commerce margins expanded for the second consecutive quarter. Bania further cites Walmart "planting the seeds" for future growth with grocery delivery and innovations in healthcare.
08/15/19
GDHS
08/15/19
UPGRADE
Target $125
GDHS
Buy
Gordon Haskett upgrades Walmart, calls stock 'a must own' in current environment
Gordon Haskett analyst Chuck Grom said that Walmart is "perceived to be a good port when the waters get choppy," but given the inflection in EBIT and EPS growth from compression to acceleration, he now views the stock as "a must own name." Given his increased conviction following the company's second quarter results, Grom upgraded Walmart to Buy from Accumulate and raised his price target on the stock to $125 from $115. He sees Walmart's acceleration in U.S. same-store sales growth as likely an outlier, rather than the norm in retail, and thinks some of its gross margin shortfall in the quarter was transitory and "self-inflected" due to a greater degree of price actions, Grom noted.
08/15/19
GDHS
08/15/19
UPGRADE
GDHS
Buy
Walmart upgraded to Buy from Accumulate at Gordon Haskett
08/15/19
BARD
08/15/19
NO CHANGE
Target $120
BARD
Outperform
Baird boosts Walmart price target to $120 from $115 after 'solid' Q2
Baird analyst Peter Benedict raised his price target for Walmart to $120 from $115 saying the company's "solid" Q2 results reinforced his positive thesis. The analyst keeps an Outperform rating on the shares. The Q2 results were encouraging, with "solid" U.S. sales and strong expense management fueling a 4% earnings beat, Benedict tells investors in a research note. He believes Walmart's business is "strong" and that its "sophisticated" omni-channel strategy is becoming increasingly difficult to match. As such, the analyst thinks Walmart shares can maintain their "premium valuation metrics."
GO Grocery Outlet
$46.55

2.81 (6.42%)

08/14/19
JEFF
08/14/19
NO CHANGE
Target $50
JEFF
Buy
Grocery Outlet price target raised to $50 from $41 at Jefferies
Jefferies analyst Randal Konik raised his price target for Grocery Outlet to $50 from $41 saying the company's Q2 results illustrated its "unique" qualities. Grocery Outlet offers "predictable and stable" fundamentals, a "topnotch" leadership team, and scalable model, Konik tells investors in a post-earnings research note titled "WOW! 2Q Shows This Unicorn's Growth & Predictable Fundies: Reit. Buy, PT to $50." He believes Grocery Outlet has created a "defendable moat."
08/14/19
COWN
08/14/19
NO CHANGE
Target $48
COWN
Outperform
Grocery Outlet price target raised to $48 from $42 at Cowen
Cowen analyst Oliver Chen raised his price target on Grocery Outlet to $48 from $42 following Q2 results. The analyst said Grocery Outlet's off-price grocery model represents a compelling combination of high quality, national branded products at deep discounts. He is excited by its marketing and shopper engagement strategies as well as operational initiatives. Chen reiterated his Outperform rating on Grocery Outlet shares.
07/15/19
07/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Slack Technologies (WORK) initiated with an Outperform at William Blair, an Overweight at Barclays, and a Buy at Canaccord. 2. Grocery Outlet (GO) initiated with an Outperform at Telsey Advisory and Cowen, a Buy at Jefferies, an Equal Weight at Morgan Stanley, as well as a Neutral at Goldman Sachs, BofA/Merrill, and Guggenheim. 3. Atreca (BCEL) initiated with an Outperform at Evercore ISI and Cowen, as well as a Buy at Stifel. 4. Aqua America (WTR) initiated with a Buy at BofA/Merrill. 5. Anaplan (PLAN) initiated with an Outperform at Macquarie. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/15/19
GUGG
07/15/19
INITIATION
GUGG
Neutral
Grocery Outlet initiated with a Neutral at Guggenheim
Prior to the open, Guggenheim analyst John Heinbockel initiated Grocery Outlet with a Neutral rating, stating that he believes the company is well positioned for 5-10 years of sales growth greater than 10% and deserves a premium valuation. However, with the shares up 55% since the IPO, he thinks the growth potential is reflected in the current valuation.

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POST

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VIX

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$NSD

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FCAU

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$NYE

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TDG

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