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Cowen prefers Target to Walmart as the retailer's earnings loom

Both Target's and Walmart's earnings reports are just around the corner, and the team at Cowen spearheaded by Oliver Chen is out with a preview note saying that while they’re bullish on both retailers, they prefer Target in the near-term. One of the reasons Cowen is cautious on Walmart is its digital profitability, which may underwhelm for the 4th quarter.