Key Points J.P. Morgan upgraded its rating on the stock from neutral to overweight and hiked its target price from $81 to $100. "In our view, TGT does not need to outrun AMZN for a revaluation, rather it needs to outcomp other home and apparel retailers, namely the mall based retailers, department stores, and specialty home retailers, for the valuation rerating to materialize," J.P. Morgan's Christopher Horvers said in a note to clients Thursday.Horvers pointed out that Target's 4.8% comps is one of the best so far in large cap retail's first-quarter, with Home Depot growing 3%, Lowe's growing 4.2%, Walmart up 3.4% and TJX up 5%.
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Lauren ThomasMichael BloomRetail industryAmazon.com IncTarget Corp
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