Jefferies analyst Daniel Binder had the opportunity to speak with John Hulbert, Vice President of investor relations at Target Corporation TGT, at the firms Investor Relations Summit.
According to the analyst, the discussion focused on Target’s response to the high-competition environment, food strategy, ecommerce, electronics, pharmacy and cost cutting.
Hulbert noted that Wal-Mart’s pricing activity has been augmented by its marketing practices: TV broadcast spending and an advertising emphasis on competitive consumable pricing, according to Binder.
“He also noted that food competition in general is intense and can be seen at other competitors, not just Wal-Mart,” said the analyst.
“Target is working toward a better balance in its focus and messaging around ‘Expect More. Pay Less.’ Greater emphasis is being put on the pay less side,” said Binder in reference to Target’s strategy in response to the competitive retail environment.
According to the analyst, Hulbert said he sees the “Expect More” side of the mantra has been properly executed, and that more focus needs to be put on the “Pay Less” in marketing and messaging practices, stating that he sees pricing as being where it should be.
Jefferies maintained a Hold rating for Target and $72 price target.
At time of writing, shares of Target were trading at $68.40.
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