) reached a new 52-week high of $68.87 on Wednesday, Mar 20,
owing to the company's strategic initiatives toward enhancing its
This Zacks Rank #3 (Hold) operator of general merchandise and
food discount stores in the United States eventually closed at
$68.52, recording a robust return of 17.2% year to date. The
company currently trades at a forward P/E of 14.69x, a 3.4%
discount to the peer group average of 15.20x.
Target has long been focused on the Canadian market, and plans
to open 124 stores in 2013 with the first 24 outlets slated to be
inaugurated in March across Ontario.
New store openings outside the United States are expected to
be accretive to the company's top and bottom lines and improve
its cash flow generation capability.
Alongside, Target is extending its reach in the fast
developing cooking and kitchenware market with a view to draw
more traffic by enhancing its portfolio of offerings. Target
entered into 2 separate transactions to acquire CHEFS Catalog and
assets of Cooking.com.
Target plans to sustain its remodeling program at existing
general merchandise locations by the addition of an expanded food
section along with a greater assortment of dry dairy and frozen
items, improved store layout and enhancement of in-store shopping
experience across departments, such as apparel, home, beauty,
shoes and baby.
Further, the company will match prices with
Wal-Mart Stores Inc
Best Buy Co. Inc
) BestBuy.com, and Toysrus.com.
Going forward, Target with its smaller-format stores called
CityTarget along with its price matching policy and the REDcard
reward program; certainly enjoys a competitive advantage over its
AMAZON.COM INC (AMZN): Free Stock Analysis
BEST BUY (BBY): Free Stock Analysis Report
TARGET CORP (TGT): Free Stock Analysis Report
WAL-MART STORES (WMT): Free Stock Analysis
To read this article on Zacks.com click here.