Evercore sees upside for Target, Best Buy on holiday shopping trends

Investing.com12-18

Investing.com -- Evercore ISI initiated positive tactical calls on Target Corporation (NYSE:TGT) and Best Buy Co Inc (NYSE:BBY) on improved holiday shopping trends and favourable spending intentions ...

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Lean inventory levels and improved shrink management could support margins into 2025, Evercore added.Despite weaker spending intent in categories like clothing, Evercore believes negative sentiment following Target’s Q3 results is overly pessimistic. A strong Q4 performance and positive outlook could lift the stock, the note said.For Best Buy, Evercore anticipates a similar 8-10% upside, targeting $95-$100. The brokerage highlighted improving consumer electronics sales and robust spending intentions, particularly among heavy electronics shoppers. 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Lean inventory levels and improved shrink management could support margins into 2025, Evercore added.\nDespite weaker spending intent in categories like clothing, Evercore believes negative sentiment following Target’s Q3 results is overly pessimistic. A strong Q4 performance and positive outlook could lift the stock, the note said.\nFor Best Buy, Evercore anticipates a similar 8-10% upside, targeting $95-$100. The brokerage highlighted improving consumer electronics sales and robust spending intentions, particularly among heavy electronics shoppers. Electronics ranked in the top three spending categories in Evercore’s holiday survey.\nHowever, risks for Best Buy include potential margin pressures from aggressive promotions and persistent tariff concerns, which could weigh on investor sentiment, the note added.\nRelated Articles\nEvercore sees upside for Target, Best Buy on holiday shopping trends\nMorocco stocks lower at close of trade; Moroccan All Shares down 0.04%\nCalifornia company settles proposed charges over illegal shipments to Russia","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492877231"}