Target: Discount Unjustified

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About: Target Corporation (TGT)
by: Gainsboro Capital
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Gainsboro Capital
Growth, long-term horizon, long only, contrarian
Summary

Target recently reported Q1 numbers, posting strong sales growth coupled with compressed margins.

Following the report, we believe the company remains well-positioned going forward - we are optimistic about like Shipt, which we believe is underappreciated.

We see opportunity in the company's shares, with upside over 40%.

The recent outbreak of COVID-19 has forced the shutdown of many businesses nationwide. For many brick-and-mortar retailers this proved to be a deadly blow. In the past several weeks, retail icons J.Crew, Neiman Marcus, and