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The Zacks Analyst Blog Highlights: Target, Overstock.com, L Brands and DICKS Sporting Goods

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  • TGT

For Immediate Release

Chicago, IL – December 3, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Target Corp. TGT, Overstock.com, Inc. OSTK, L Brands, Inc. LB and DICKS Sporting Goods, Inc. DKS

Here are highlights from Wednesday’s Analyst Blog:

E-Commerce Makes Cyber Monday Best Shopping Day Ever: 4 Picks

The retail sector is trying to bounce back on its feet with apt support from e-commerce after taking a bad hit due to the pandemic. And it seems that e-commerce is trying not only to breathe life into the retail sector but also give it the due momentum. A proof of that was the record sales generated on Cyber Monday.

According to Adobe Analytics, e-commerce set a new revenue record on Cyber Monday making it the largest online shopping day ever in U.S. history. One of the biggest reasons behind this was growing fears of coronavirus that kept people at home this Thanksgiving and Black Friday, and shop online.

Biggest Shopping Day Ever

According to data from Adobe Analytics, people spent a whopping $10.8 billion, up 15.1% year over year, shopping online on Cyber Monday, making it the single-largest shopping day ever. However, Adobe Analytics had projected $12.7 billion worth of shopping on Cyber Monday.

This year’s surge was backed by gift buying, which started quite early as retailers unveiled deals and offers to avoid people from crowding stores due to the pandemic.

E-Commerce Proving Its Dominance

Although visiting physical stores during the holiday season has been the tradition, e-commerce has slowly been finding its place. This year proved to be a landmark for online shopping. Thanks to the pandemic, people were compelled to stay at home and shop online.

Majority of the customers used smartphones to shop this year as an increasing number of retailers are investing in mobile apps and offering bigger and better deals there. According to Adobe Analytics, 37% of the total online shopping was done on smartphones on Cyber Monday.

Moreover curbside pickup, which jumped 30% from the year ago, played a key role in giving e-commerce a boost. The major success of e-commerce on Cyber Monday comes on the back of robust online sales on Black Friday and Thanksgiving.

This year, Black Friday generated $9 billion in online sales, up 21.6% year over year. A total of $5.1 billion was spent online on Thanksgiving, marking an increase of 21.5% year over year.

Our Choices

Given the lingering virus fears, online shopping will continue to be a safe bet till a vaccine is widely available. This is thus the right opportunity to invest in retail stocks that have a strong online presence.

Target has evolved from just being a pure brick & mortar retailer to an omni-channel entity. The company has been investing in technologies, improving websites and mobile apps, and modernizing the supply chain to keep pace with the changing retail landscape and better compete with pure e-commerce players.

The company’s expected earnings growth rate for the current year is 35.5%. The Zacks Consensus Estimate for current-year earnings has improved 21.1% over the past 60 days. Target carries a Zacks Rank #2.

Overstock.com is primarily an e-commerce service provider. The company sells its broad range of price-competitive products, including furniture, home decor, bedding and bath, and houseware through its www.overstock.com, www.o.co and www.o.biz websites.

The company’s expected earnings growth rate for next year is 1.8%. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the past 60 days. Overstock has a Zacks Rank #2.

L Brands evolved from an apparel-based specialty retailer to a segment leader focused on women’s intimate and other apparel, personal care, beauty and home fragrance products. 

The company’s expected earnings growth rate for next year is 0.4%. The Zacks Consensus Estimate for current-year earnings has improved 96.6% over the past 60 days. L Brands sports a Zacks Rank #1.

DICKS Sporting Goods operates as a major omni-channel sporting goods retailer, offering athletic shoes, apparel, accessories and a broad selection of outdoor and athletic equipment such as for team sports, fitness, camping, fishing, tennis, golf and water sports.

The company’s expected earnings growth rate for the current year is 58.5%. The Zacks Consensus Estimate for current-year earnings has improved 49.2% over the past 60 days. Dicks Sporting sports a Zacks Rank #1.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Media Contact

Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Target Corporation (TGT) : Free Stock Analysis Report
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L Brands, Inc. (LB) : Free Stock Analysis Report
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