Wolfe Research analyst Spencer Hanus tells investors in a research note that the firm’s checks indicate Walmart (WMT) continues to outperform Target (TGT) across most trade areas, with Target showing strong seasonal merchandise execution in select markets like Northern NJ but weaker in others, particularly approaching Philadelphia. A recent Target website/app outage and regional distribution disruptions prompted the firm to cut its Q4 same-store sales estimate by 25 basis points, though no immediate out-of-stock issues were observed, the firm adds. Wolfe has an Underperform rating and $81 price target on Target shares.
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