JPMorgan analyst Christopher Horvers placed a “Negative Catalyst Watch” on Target while keeping a Neutral rating on the shares. The company faces a number of potential negative catalysts into its Q2 earnings report in mid-August, the analyst tells investors in a research note. The expected Supreme Court decision on student loans affects Target more than other broadlines retailer, says the firm. In addition, if the company’s traffic doesn’t bounce around the July 4 holiday, the market will have to digest back-to-school comp risk as schools in the southern U.S. go back earlier, says JPMorgan.
Published first on TheFly
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