BBY and TGT facing challenges, but remain bullish with potential upside

From TipRanks: 2024-07-22 11:23:43

Best Buy (BBY) and Target (TGT) are facing challenges due to inflation and a slow consumer environment, but remain bullish. Walmart (WMT) has outperformed by focusing on low prices and grocery sales. Target aims to expand its grocery business and improve e-commerce capabilities to rival Walmart and Amazon (AMZN).

Walmart has seen success with low prices and groceries, while Target is expanding its grocery business and offering same-day delivery. Best Buy is gearing up for an AI device upgrade cycle. BBY stock is a Moderate Buy with a 2.3% upside, while TGT stock has an 18% upside potential.

Looking ahead, both retailers have opportunities to capitalize on unique catalysts. Target aims to mirror Walmart’s success, while Best Buy prepares for an AI-powered device refresh cycle. Rates turning lower could benefit both retail plays, offering hope for future growth.



Read more at TipRanks: BBY, TGT: 2 Hard-Hit Value Stocks in Retail